A popular retirement home in New York is closing, leaving many residents and families shocked, inconvenienced, and nervous about the future. The facility is closing due to rising costs in its neighborhood and concerns about its long-term viability. Unfortunately, many families have been disappointed at the news and are concerned about their prospects for finding comparable levels of quality and convenience in a new facility.
This case highlights the sad fact that retiring and finding a suitable option for long term care can be immensely difficult. Whether it’s navigating planning an estate, finding a nursing home or assisted living facility, or even figuring out how to pay for care, growing old can be difficult. It truly is sad to know that many families will now be back on the market for a long-term care plan that satisfies their budgets and meets their needs.
Living a long and fulfilling life in New York state is the dream of so many people, many of whom unfortunately find planning for the later stages of their life very difficult. The simple truth is that growing old anywhere in New York requires careful planning and the help of trusted and skilled professionals.
Just like you would trust an accountant, financial planner, or stockbroker to give you advice and help you map your financial future, an attorney can be an important partner for you when planning for long term care.
An attorney may be able to help you plan your future and ensure that any finances or assets you have can be used to secure your long term goals.
Source: The Wall Street Journal Market Watch, “A retirement worst-case scenario: eviction,” Elizabeth O’Brien, May 14, 2014