Long-term care insurance could be an extraordinary benefit to elderly persons who pride themselves on independent living and who do not want to burden their family members. This long-term care planning subject is an important one for older parents to discuss with their adult children. Despite the seeming importance of this insurance, however, the product has not been a big seller in Texas or elsewhere. Due to lack of information and other factors, only a relatively small percentage of elderly citizens have this kind of coverage.
During the last legislative session, Texas lawmakers created a new Statutory Durable Power of Attorney, which is a very important form in estate planning and elder law.