Solomon, Steiner & Peck, Ltd.
Call today for a consultation:
216-245-0185 / 866-642-0932

Plan for long-term care when young to prepare your finances

Preparing for long-term care is something everyone will have to do at one point or another. The reality is that it's better to do it as soon as you can. If you begin to plan for long-term care in your youth, it's a relief to know that you're going to be cared for no matter what happens.

Statistics from the U.S. Department of Health and Human Services show that around 70 percent of people will require long-term care of some kind after the age of 65. Some factors that play a role in whether a person needs long-term care or not include:

  • Lifestyle choices
  • Health and family history
  • Age
  • Marital status
  • Gender

Regardless of who you are, the lifestyle you have or the gender you are, you have the potential to need long-term care. One of the ways to plan for this is by having long-term care insurance or by placing funds into a trust for your care.

It's impossible to know how much care you might need in your life. Long-term care, on average, is needed for 3.7 years for women and 2.2 years for men. Women tend to live longer, so that also makes them more likely to require long-term care in the future.

Your attorney can help you set up a trust as a part of your estate plan. You can also look into other ways of saving or preparing for long-term care as you begin to age. Although you may start planning young, you'll want to review your options each year as you age.

No Comments

Leave a comment
Comment Information

2005 BBB Torch Award Recipient Recipients of the 2005 BBB Torch Award Honoring Business of Integrity

  • ASNP
  • CMBA Green Certified 2107-19
  • member of the national eldercare matters Alliance
  • Golden opportunities

We are here to help. Contact our attorneys today.   

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Mayfield Heights Office
6105 Parkland Boulevard
Suite 140
Mayfield Heights, OH 44124

Toll Free: 866-642-0932
Phone: 216-245-0185
Fax: 216-595-2787
Mayfield Heights Law Office Map

Independence Office
Crowne Centre
5005 Rockside Road, Suite 600
Independence, OH 44131

Toll Free: 866-642-0932
Phone: 216-245-0185
Fax: 216-595-2787
Map & Directions

Westlake Office
PS Executive Centers
1991 Crocker Road
Suite 600
Westlake, OH 44145

Toll Free: 866-642-0932
Phone: 216-245-0185
Fax: 216-595-2787
Map & Directions

Mentor Office
5966 Heisley Road
Ste 201
Mentor, OH 44060

Toll Free: 866-642-0932
Phone: 216-245-0185
Fax: 216-595-2787
Map & Directions

Review Us