A comprehensive new guide shows how to prevent a family financial crisis due to long-term care.
|
|
(HealthNewsDigest.com) – GREENBRAE, CA — How will you pay for long-term care when you need it, and who will take care of you? That’s the question posed by financial advisor and eldercare expert Harold Lustig in a new book aimed specifically at women, called Naked in the Nursing Home: The Woman’s Guide to Paying for Long-Term Care without Going Broke (Blooming Twig Books, 2011).
“The problem is, modern medicine is keeping us alive so long that we’re outliving our assets,” says Lustig. “For women, in particular, long-term care is a nightmare, because wives and daughters not only bear most of the caregiving burden for their aging loved ones, but they are far more likely than men to end up in a nursing home.”
In his new book, Lustig, who specializes in the needs of seniors and their families, presents tips, tools, and strategies to help you make smart decisions regarding long-term care for you and loved ones, ways to plan and pay for it, and how to avoid serious financial mistakes that can destroy your health, happiness, and your family’s financial security.
He covers the tricks and traps of Medicaid, including mistakes to avoid, secrets to navigating the system, and answers to top FAQs. You’ll learn why you may be eligible for free long-term care if you’re a wartime veteran, or the spouse or surviving spouse of one (Lustig calls this VA-sponsored program the “best-kept-secret in long-term care”). You’ll also learn about long-term care insurance and find the most appropriate insurance for your needs. For people who are trying to figure all of this out, Lustig shows how to find trustworthy professionals such as geriatric care managers, financial advisors, and elder law attorneys who can help, and also warns readers about the elder financial abuse and how to prevent it, which is, unfortunately, a common problem.
Peppered throughout the chapters are useful “Planning Tips”—from calculating the cost of long-term care in your area, to choosing the right nursing home for a loved one. In the back of the book, Lustig includes pages of valuable resources for patients, seniors, and their caregivers and loved ones, as well as a glossary of perplexing terms found in insurance, medical, or legal documents.
After dispelling common myths people have about long-term care and the finances needed to pay for it, Lustig presents case studies of three hypothetical families to demonstrate how they might use all of this information to maximize their options. For boomer women worried about caring for spouses, elderly parents, and eventually, themselves, this comprehensive resource offers guidance and information they won’t find anywhere else.
“I wrote this book,” says Lustig, “because I have seen too many families trying to scramble out of financial ruin, when an ounce of prevention could have saved them. The advice and recommendations in my new guide are designed to save readers thousands of dollars — and a great deal of heartache.
# # #
Harold Lustig is a nationally recognized authority on financial, estate, and long-term care planning for elders and their families, and the author of Naked in the Nursing Home: The Woman’s Guide to Paying for Long-Term Care without Going Broke (Blooming Twig Books, 2011). Learn more at www.nakedinthenursinghome.com.
###
Subscribe to our FREE Ezine and receive current Health News, be eligible for discounted products/services and coupons related to your Health. We publish 24/7.
www.HealthNewsDigest.com
For advertising/promotion, email: [email protected] Or call toll free: 877- 634-9180