No one is immune to the possibility of getting sick or suffering injuries. Even the most cautious person could end up in an unexpected situation that leads him or her to needing long-term care. Of course, the costs of such care are often overwhelming, and if Texas residents do not plan accordingly, their finances and options for care could end up hurting.
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.