How old do I have to be to start planning for long term care?

There are several steps in planning for long term care, and the first step should be taken right now.  The best approach is to have your care paid by insurance, and the sooner you investigate what is offered, the more options you will have and the less it will cost.  The biggest mistake most people make is to wait until they are too old or too ill to qualify.

If you determine that long term care insurance is not an option, you should look at planning to protect your assets in the event you go into a nursing home.  It is seldom advisable to implement this planning until you know with some degree of certainty that it will be necessary.  What is necessary is that you have your basic estate plan complete.  Your estate plan must provide all of the required tools so that if you are unable to manage your assets at the time nursing home planning becomes necessary, someone is appointed to do this planning.