A new and useful publication to help people plan for long term care was released this week.  The Guide to Legal and Financial Planning Needs of Seniors by Homewatch CareGivers was produced to help educate a growing community of Americans needing long-term care, and more specifically the generation of baby boomers approaching retirement, who are running out of time to get their financial and legal issues in order before needing long-term care themselves.

The baby boomer generation, in many circles, has evolved into ‘the sandwich generation’ by having their income’s and savings accounts tugged at from each end thanks to elder parents needing expensive, long-term care, and college-aged, or adult children still feeding from the trough.

By 2020, baby boomers will swell the senior population from 39 million to 53 million, according to the Centers for Medicare and Medicaid Services (CMS), which means one in six Americans will be a senior!

The Guide to Legal and Financial Planning Needs of Seniors offers information on the following critical areas of focus for those concerned about the future:

• Financial Planning: for those who want some control over the transitions from working years to retirement to end-of-life, the time to begin financial planning is now. Within the guide readers will find key information surrounding the costs of care, the often misunderstood topic of long-term care insurance, and the variety of care options available for loved ones as they age.
• Legal Planning: rather than making decisions under pressure, legal planning helps to establish a decision-making infrastructure. The guide discusses topics related to elder law, estate planning, and the legal tools available in advance of any incapacitation.
• Resources for Families: the planning accomplished today impacts the choices we are able to make later on. The guide offers candid guidance on how best to have these sensitive discussions with aging family members in order to plan in advance for contingencies and important choices.

The Center for Medicare and Medicaid Services also estimates that by 2020 60-percent of people over the age of 65 will need some form of long-term care. Without the resources to address these needs, the impact on American families could be catastrophic. Proper planning, both on the legal and financial end, can help keep the retirement waters calm.

If you are concerned about your future financial and legal state, take a few seconds to download a free copy of the Guide to Legal and Financial Planning Needs of Seniors and use it as a starting point in getting your family’s legal and financial situation organized.

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Leann Reynolds serves as President of Homewatch CareGivers.  As President, Leann guides the strategic direction of the company, manages the leadership team, and fosters the overall company culture. Leann has served as President of the Homewatch CareGivers brand since 2006. Prior to her position as President, Ms. Reynolds owned and operated her own Homewatch CareGivers franchise in Portland, Oregon, which opened in the summer of 2003. Working in this business gave Leann a real understanding of and compassion for the day-to-day lives of Franchise Partners, fueling her passion for creating a support focused franchising organization.