The Benefits of Continuing Care Retirement Communities

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Entrusted Legacy Law

Posted on

Jan 27, 2023

Book/Edition

Pennsylvania - Greater Pittsburgh Area

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Many options are available for those planning where to live and receive care during their retirement years. 

Independent living communities are for healthy, active older adults. Assisted living facilities suit those who need help with activities of daily living, such as bathing, dressing, preparing meals, and medication management. Skilled nursing facilities provide care to individuals with significant medical conditions. 

Yet, as people age, the type and level of care they need often change. Older adults who start in one kind of community often must move to another facility that can support their evolving needs. Relocating can be stressful, as individuals leave their friends to start over in an unfamiliar environment, often while their autonomy and access to recreation diminishes. 

Continuing Care Retirement Communities Provide Consistent Care

Continuing care retirement communities (CCRCs) present a solution for people who wish to avoid the strain of moving and remain in one senior living community that meets their evolving needs. Also called life plan communities, these establishments typically offer independent living, assisted living, memory care, and skilled nursing in one centralized location. 

Residents can choose from different housing options, such as cottages, condos, and studio apartments. Far from appearing like institutions, CCRCs resemble neighborhoods. 

As elders’ needs change, such a community can provide progressively appropriate care. For instance, a resident may begin living unassisted before transitioning to receiving aid with activities of daily living or nursing care. A person who develops dementia can move into a memory unit within the grounds. 

Additional Benefits of Continuing Care 

As well as allowing residents to remain in a single, familiar community as their health and abilities change, CCRCs have many advantages compared with other residential senior living establishments. 

  • Live With Your Spouse — In CCRCs, individuals with different needs can live in the same community. So, spouses can remain together even if only one requires nursing care or help with activities of daily living. 
  • Remain in a Community — Elders can also stay connected with their friends in the community and enjoy a social environment. 
  • Maintenance and Meals — Residents don't have to worry about maintaining their homes, cooking, or cleaning.
  • Rely on Convenient Services — Similar to a small town, life plan communities provide commercial services like banks, beauty salons, barber shops, coffee shops, and shopping.
  • Access Health Care — Professional health services, such as physician and nursing care, physical therapy, dental services, nutrition counseling, and mental health assistance, are also available. 
  • Enjoy Other Amenities — Amenities, such as walking trails, swimming pools, and fitness centers, as well as game, craft, and music rooms, help residents stay active and engaged. 

Selecting a Life Plan Community 

With over 2,000 across the United States, many areas have continuing care retirement communities, SeniorLiving.org reports. Since these facilities typically resemble ordinary housing developments, people may not know there is a CCRC in their town. 

Choosing a life plan community near your family, friends, and hometown can maximize social support. Most people seeking continuing care options intend to remain there for the rest of their lives. In fact, this is continuing care’s primary advantage — so location is an essential consideration. 

In addition to location, AARP.org recommends assessing several other components before choosing a life plan community. It's a good idea to tour the CCRC before signing an agreement. Also, consider the following.

  • Review Housing Options  How are the floor plans? Are the common areas clean?
  • Investigate the Staff’s Credentials  Are they professional and friendly? What hours do they keep? 
  • Consider Available Services  Does the staff take care of laundry? What kind of commercial services does the development have? What type of transportation does the organization offer? 
  • Learn About Social Activities — Is there a schedule of activities with off-site trips? How are the exercise facilities? Are there fitness classes? What kind of entertainment does the place offer? 
  • Evaluate Meals  Examine recent menus. How many entrees do they offer? Can the facility accommodate dietary restrictions? 
  • Speak to Residents  How do they feel about the community? Do they think it's worth the cost? What do they think of the staff and services available? 

Affording Care in a Continuing Care Retirement Community

CCRCs require a one-time entry fee in addition to monthly payments. According to AARP.org, the price can range from $20,000 to more than $2 million, with an average of $402,000. 

Entry payments can be especially high for those who enter into extensive life-care contracts. Still, they receive assisted living, medical treatment, and skilled nursing care for little or no additional cost for the duration of their lives. They can avoid later costs by paying in advance for assisted living and nursing services. 

For many, life plan communities are worth the cost. Residents can have peace of mind knowing they will remain in a familiar location with consistent support should their health decline. While maintaining maximum independence, they can prepare for future mobility or health complications. 

Consult a Lawyer

Joining a CCRC requires signing a complex contract. Those exploring continuing care should consider working with an elder law attorney. An advocate can help them weigh the pros and cons of continuing care, determine payment options, and explain contracts before you sign them.

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Our Firm Prepares You for Life What makes our firm different is that we were built with the needs of growing families in mind. We understand you are BUSY, you are growing, you are planning for a life of prosperity and you value ease, convenience and efficiency. You are raising children, and caring for elderly parents, while also working hard to build your own nest egg for a lifetime of support. You want to know youve made the best decisions for your family and that your plan will work when your loved ones need it most. You want to make sure your minor children would be raised by the people you choose, and never by anyone you wouldnt want, and that your teens and adult children are properly prepared to care for you and what you leave behind.  You want to feel confident that youve made the right choices, and handled everything so that you arent leaving behind a mess, when something happens. That is our focus as well. Weve developed unique systems to give you the same access to a Personal Family Lawyer as was previously only available to the super-wealthy, so you can have the guidance you need to build and maintain a life of prosperity and wealth. And, to keep your family out of court and out of conflict, which is the greatest risk to the people you love and all you have created, even if youve already worked with a traditional lawyer or created documents online. Our Team Is Here for You We encourage communication with our clients. In fact, weve thrown out the time clocks so you never have to be afraid to call with a quick question. Everything we do is billed on a flat-fee basis, agreed to in advance, so there are never any surprises. We have a whole team to serve you. When you call our office to ask your quick question, you wont have to wait hours or days for a phone call back. Youll get your question answered, right away. And, if you need to schedule a more in-depth legal or strategic call with your Personal Family Lawyer, a call will be scheduled when you're both available and ready for the call so we can make the very best use of your time and not waste your time by leaving voicemail after voicemail back and forth. And, we ensure the most important details of your planning are followed through on and your plan continues to work throughout your lifetime. We have a funding coordinator to ensure your assets are owned the right way throughout your lifetime and none of your assets will end up going through a long, expensive court process or being lost to the state because they were missed after your death. Weve created unique membership programs to keep your plan up to date year in and year out as well as give you access to our Trusted Team of Legal Experts for guidance on ANY legal or financial matter. One day you will need a lawyer. I dont know why and I dont know when, but when you do, you will be grateful you can call on us and well be here to advise you or get you out of a jam. We Help You Transfer Your Life and Legacy Lastly, we believe your financial wealth is only a small part of your overall Life and Legacy Planning which is made up of your far more valuable and most often lost upon incapacity or death intellectual, spiritual and human assets. These assets are what make you who you are, and sum up whats most important to you. And, a survey of inheritors has revealed that what they care about even more than inheriting your money, is inheriting these intangible assets.   Most estate plans only focus on the transfer of your financial wealth to the next generation. Most people have such great intentions of passing on the intangible, but very few ever get around to it. Its just not a priority, until its too late. How much do you know about your grandparents values? Their most prized personal possessions? How they felt about you? What they had learned during their lifetime? If you are like most people, you know very little. Thats why we build the capture and passage of these most valuable assets into every estate plan we create. Not only will we help you pass on your money, but also your values, your insights, your stories and your experience the truly valuable assets your loved ones care about the most.  Weve developed a tool that allows us to capture and pass on your whole family wealth, including your Intellectual, Spiritual and Human assets.  I cant go into all of the details here, but well definitely talk about it when you come in for your Life and Legacy Planning Session.