Amid headlines of COVID-19 infiltrating nursing homes and large senior care facilities, it’s understandable that many Americans would prefer to avoid assisted living environments as they grow older. However, the trend to age in place predates the pandemic. Remaining at home was the first choice for 76% of Americans age 50 and older, according to a 2018 AARP survey.
We may think of a spoiled heiress to a large fortune, whose parents were savvy enough to prevent her from having full access to her funds. On the other hand, we could imagine a loved one with special needs, whose needs will be provided for with trust-protected money.
As nursing homes in many states start to emerge from a four-month lockdown, residents and their loved ones are desperate for in-person visits. The federal government has issued guidelines for reopening nursing homes to visitors, and more than half of the states have authorized limited visitation.
Looking for an extra incentive to spend some quality time with your grandchildren? Try telling their parents that it could extend your life.