Experts in elder care planning in Texas and elsewhere recommend strongly that families have a conversation with an elderly parent about his or her preferences and desires for long-term care. The talk must take place when the individual has control of his or her faculties and can contribute to the conversation. Early planning for long-term care can ultimately assure financial and emotional stability for all of the concerned family members.
One tough problem is that people tend to put this subject at the bottom of their priorities. That is unfortunate because the truth is that 70 percent of persons over 65 will need some form of long term care services, and the majority are not prepared. Furthermore, people who investigate the facts will find that the contribution of Medicare to long-term care is virtually nil. Additionally, in order to qualify for Medicaid to fund nursing home care, one's assets must be spent down and gifted away years before requesting services.