No Minnesota resident knows exactly what the future might hold for them and their loved ones. While there can be many exciting opportunities yet to come, there can also be challenges and risks that may present themselves over time. Accordingly, it is essential for individuals to be prepared for these risks and plan as best they can.
Minnesota residents differ in their ability to tolerate risk. However, even those who might consider themselves able to tolerate risk would probably agree they do not consider it wise to gamble with their personal life. Yet, whether they realize it or not, this is precisely what many individuals are doing when it comes to long term care planning.
It can be uncomfortable for St. Paul residents to confront unpleasant thoughts about what might happen in their future. This is often a driving reason for why individuals may not engage in estate planning, as the thought of passing on and not being alive is one that many would like to avoid if possible.
While every Minnesota resident hopes for the best, nobody can predict the future. Unfortunate events occur from time to time, with little or no advance warning. While it may not be possible to avoid these incidents, a little bit of planning can go a long way toward dealing with these incidents when they happen.
As members of generations continue to live longer, it is becoming more likely senior citizens will need some type of long-term care. In fact, the U.S. Department of Health and Human Services found about 70 percent of those who reach age 65 will need some form of long-term care, lasting an average of three years. And this medical care can be expensive.