Sanibel Captiva Trust Company Addresses Long-Term Care Options and Funding
Posted on April 24, 2017
The final program of The Sanibel Captiva Trust Company’s WOWPlus 2017 series was this past week at The Sanctuary Golf Club. The presentation entitled “A Beautiful Friendship… Long-Term Care and Finance” was presented by Samira K. Beckwith, CEO & President, Hope HealthCare and Robin L. Cook, Executive Vice President, The Trust Company.
Some important statistics were highlighted during the presentation: only 39% of investors discuss their long-term care wishes with their children; the chance an American woman over age 75 will live alone is 50%; about 68% of nursing home residents and 75% of assisted living residents are women; the annual average cost for assisted living facilities in Lee County is $44,976.
“The best gift we can give our children is to be as self-sufficient as possible,” said Cook. “It’s so important to plan ahead for those elder years or times of incapacity, so you are financially and emotionally prepared.” Cook shared that she and her husband had just recently purchased Long-Term Care insurance for the day when they may need these services themselves. LTC insurance can deflect burdening the next generation and help off-set the financial drain on one’s estate, allowing the individual to continue to live in a pleasant and comfortable atmosphere of their choosing, whether it is in an assisted care community or at home with in-home care.
Beckwith expounded on these vital facts and emphasized that Hope HealthCare helps people plan for their future. She had several positive stories to share, one highlighting a family that bravely faced an end-of-life discussion, which she highly recommends. “Although painful or sad for children,” she said, “it’s like removing a Band Aide – you say it once and get it over with, and the family is much better for it.”
She recommended that people take the time to download a copy of Hope HealthCare’s brochure, “Five Wishes,” from their website. It is a simple form that documents the individual’s instructions for future medical care in the event he or she becomes unable to speak for themselves, which includes a health care power of attorney, a living will and a declaration of an anatomical gift. It also sets in motion a vital discussion with children or a trusted advisor. “It’s important to work with a professional to assess your long-term health care needs, just as you would work with an advisor for your investment strategy,” said Beckwith.
For more information about Hope HealthCare visit www.hopehcs.org or visit www.sancaptrustco.com to meet with an advisor about putting a financial plan together to meet your needs.
WOWPlus is an educational series on financial, estate planning and quality-of-life matters. It stands for Women, Opportunity and Wealth. The Plus was added this year to include gentlemen for two of this season’s programs. The WOWPlus series will continue next season. If you are not already on the mailing list and would like to be invited, please contact Frances at 239-472-8300 or email fsteger@sancaptrustco.com Available for investable assets of $2 million and higher.
Photo: Robin L. Cook of Sanibel Captiva Trust Company and Samira Beckwith of Hope HealthCare presented at The Trust Company’s presentation on “A Beautiful Friendship – Long-term Care & Finance.”
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