Getting old is difficult. And talking about your plans for when you near the end of your life can be even harder. However, it is important that you go into this part of your life with a clear head and a good understanding of your plans and your options going forward. As you near the end of your life and start thinking about transitioning into end-of-life care, you should be aware of the programs that are available to you as an elder, as well as modifications to make to your current living space to make your life more comfortable. And, like all other eras of your life, this era can be costly, so it is important that you research your financial options as well. If you are curious about how to prepare for end-of-life-care, keep reading for five key ways.
1. Speak openly with friends and family about your wishes
One of the first ways to prepare for the end of your life is to make sure you communicate openly and honestly with your family or whoever will be around when you pass away. Make sure they know about your wishes in regard to the type of care you’d like to receive, where you would like to receive this care, and any stipulations you have for funeral or burial arrangements. While these things may seem rather grim to talk about or to think about, they are important for preparing for the end of your life.
2. Consider aging in place
You may also want to consider the idea of aging in place. Aging in place is a practice employed by those nearing the end of their life wherein they live out the remainder of their life in the comfort of their own home. To do this, you will typically need to make modifications to your current residence. There are areas in your home that are likely not aging-friendly, so by building an aging-friendly remodel, you can ensure that you will be comfortable and will be able to access important areas of your home throughout your aging process. Some things you may want to consider are floor leveling, stairlift installation, or an accessible bathroom remodel.
3. Go through the process to author your will
When you are close to dying, it is important to get your affairs in order and make sure you know the contents and stipulations of your last will and testament. Part of writing a will is making sure you know the value of your assets, and assigning them to people in your life to receive them when you die. Make sure you are very specific about your wishes so that there are no questions for the people who survive you. You will also need to appoint an executor for your will, who will be tasked with the responsibility of making sure your wishes are carried out.
4. Know your care options
As you get older, you should research and know your options for care in old age. If aging in place is not an option for you, or you are living with an illness or disability that makes it difficult to live alone or without medical supervision. Research your options for assisted living communities or nursing homes, which provide more hands-on care than you would receive living in your own home.
5. Research viatical settlements
One of the most difficult and confusing parts of getting older is paying for the new products and services you may need, all while being out of work. If you find yourself struggling financially and are having trouble paying for life insurance premiums, you may be eligible to sell your life insurance policy through the American Life Fund, which is an organization that offers cash for life insurance policies. You can expect to receive less than the amount your beneficiary would receive at the time of the policy’s full maturation, but more money than you would get if you surrendered the policy. This lump sum of cash can be helpful if you are behind on bills or need to pay for medical treatment.