You Prepared for the Risk of Long Term Care Facing
You and Others?
Marlene S. Stum, Ph.D. Family Social Science
you done planning for yourself?
you haven't started planning for financing long
term care, you're not alone. According to a recent
survey, most respondents (67%) recognized that
paying for long term care threatens their later
life financial security, but only 12% responded
that they felt they had adequately prepared for
the possibility that they will need long term
care (Greenwald & Associates, 1999).
you planned with your spouse/partner?
is very important that family members plan together
for their long term care needs. There are many
decisions about income, assets and financial security
that couples and families need to address given
potential financial implications for everyone
involved. Do you know how your spouse feels about
his/her risk of needing long term care or potential
risk protection options?
you prepared to cope with a family member's long
term care needs?
the US, the majority of long term care is provided
by family members. Spouses, adult children, friends
and relatives provide the majority of unpaid long
term care. Caregivers spend, on average, 20 hours
per week to provide care for older persons and
even more time when the older person has multiple