One of the main goals of estate planning clients is that they not become a burden on their children during their twilight years. Lifestyle independence is a primary objective for many of these clients. If they have to obtain the services of a caregiver at any time in the future, they much prefer that their children not be burdened with that job. Elderly planning in Texas thus involves adopting a financial plan that will prevent depletion of one's resources through long-term care costs and, ideally, still leave an inheritance for one's children.
Of course, a part of the equation depends on the degree and length of long-term care that may be required in the future, and that is an unpredictable factor. However, federal government sources do indicate that a 65-year-old senior today has a 70 percent chance of needing some form of long-term care at some point in the years ahead. The planning process requires analyzing the options and choosing what is within the financial scope of the client's abilities.