For high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals, elder care planning is rarely about cost.
It is about control.
Control over decisions.
Control over timing.
Control over quality of life, privacy, and independence.
Yet even affluent families are often surprised by how quickly control can erode when elder care needs arise without a clear plan. Hospital protocols, state laws, family disagreements, and urgency can dictate outcomes—regardless of wealth.
At OnePoint BFG Wealth Partners, we help families approach elder care planning with the same intentionality they apply to investing and legacy planning. The goal is not simply to fund care, but to preserve optionality at every stage of life.
-
Why Control Becomes the Central Issue in Elder Care
Affluent families typically assume resources equal flexibility. In practice, flexibility depends on preparation.
Without proactive planning:
- Medical decisions may default to institutional policies¹
- Financial authority may be unclear or legally constrained²
- Care options may narrow rapidly under time pressure
When a health event occurs, families often find themselves choosing between available options rather than preferred ones.
Elder care planning, at its core, is about ensuring that wealth supports choice rather than reacting to circumstance.
-
The Cost of Losing Optionality
Optionality is most valuable before it is needed.
Families who delay elder care planning often experience:
- Limited access to preferred in-home or private care providers
- Forced geographic decisions based on facility availability
- Increased family tension when authority is ambiguous
- Accelerated spending driven by urgency rather than design³
Even substantial wealth cannot always undo decisions made too late.
By contrast, early planning allows families to evaluate care models, providers, and funding strategies thoughtfully—on their own timeline.
-
Designing Elder Care Around Choice, Not Crisis
Effective elder care planning creates a framework that adapts as needs evolve.
This framework typically includes:
- Legal authority through updated powers of attorney and healthcare directives⁴
- Care preferences clearly documented and communicated
- Financial structures that preserve liquidity and flexibility⁵
- Contingency plans for cognitive decline or sudden health changes⁶
When these elements are in place, families retain the ability to pivot—without starting from zero during a crisis.
-
In-Home Care, Private Facilities, and Hybrid Solutions
One of the most common HNW search questions is:
“How long can we realistically plan to stay at home?”
For many families, the answer lies in hybrid solutions:
- In-home care supported by concierge medical services
- Short-term private facilities used strategically rather than permanently
- Geographic flexibility that allows care to follow the individual
Planning early allows families to evaluate these options before health constraints limit feasibility.⁷
-
Privacy, Independence, and Dignity as Planning Priorities
For affluent families, elder care planning is often deeply personal. Privacy and dignity matter as much as medical outcomes.
Without a plan:
- Personal information may be widely shared across providers
- Decisions may be made by default rather than by design
- Independence can be lost faster than necessary
Thoughtful planning helps ensure that care decisions reflect personal values—not institutional convenience.⁸
-
Integrating Elder Care Into a Broader Wealth Strategy
Elder care planning is most effective when integrated into a holistic financial framework.
When aligned properly:
- Care funding complements estate and tax planning
- Liquidity is preserved without disrupting long-term goals
- Family members understand roles and expectations
- Wealth supports continuity rather than stress
At OnePoint BFG, elder care planning is not treated as an isolated problem. It is evaluated through the lens of your OnePoint—the perspective that brings clarity and coherence to complex decisions.
Conclusion
High-net-worth families do not plan for elder care because they fear running out of money.
They plan because they value control, choice, and confidence.
The earlier elder care planning begins, the more optionality families retain—and the more likely decisions will reflect intention rather than urgency.
At OnePoint BFG, we help families design elder care strategies that preserve independence, protect relationships, and ensure wealth remains a source of stability at every stage of life.
If you value clarity, alignment, and discretion, we’re available for a private discussion about how elder care fits within your broader financial perspective.
Sources
-
- National Institute on Aging, What Is Long-Term Care?
https://www.nia.nih.gov/health/what-long-term-care - National Council on Aging, Advanced Directives, What Are They and When Should You Create One?
https://www.ncoa.org/article/advance-directives-what-are-they-and-when-should-you-create-one/ - AARP, Planning for Long-Term Care
https://www.aarp.org/caregiving/long-term-care/ - Mayo Clinic, Advance Directives: Living Wills and Medical Power of Attorney
https://www.mayoclinic.org/healthy-lifestyle/consumer-health/in-depth/living-wills/art-20046303 - Fidelity Investments, How to Plan for Long-Term Care
https://www.fidelity.com/viewpoints/personal-finance/long-term-care-planning - Harvard Health Publishing, Advance Care Planning
https://www.health.harvard.edu/caregiving/advance-care-planning - U.S. Department of Health & Human Services, Long-Term Care Services
https://acl.gov/ltc - Kaiser Family Foundation, An Overview of Long-Term Services and Supports
https://www.kff.org/tag/long-term-care/
- National Institute on Aging, What Is Long-Term Care?
Investment advisory and financial planning services offered through Bleakley Financial Group, LLC, an SEC registered investment adviser, doing business as OnePoint BFG Wealth Partners (herein referred to as “OnePoint BFG”). For more information regarding OnePoint BFG including important disclosures, please visit https://adviserinfo.sec.gov/.
The third-party information contained herein is provided for informational and discussion purposes only. OnePoint BFG does not represent this third-party information as its own. While OnePoint BFG has gathered this information from sources deemed to be reliable, OnePoint BFG has not reviewed or verified any information input by your financial professional or that of the third-party source, nor can OnePoint BFG guarantee the completeness or accuracy of this data.
OnePoint BFG does not offer legal or tax advice. This document is not a substitute for the advice of a qualified attorney or tax professional. You should not take any action based solely on the information provided on this report without seeking legal counsel from a licensed attorney or tax professional in your jurisdiction. No attorney-client relationship is formed by your use of this document.
This communication has been provided for informational purposes only and should not be considered as investment, legal or tax advice or as a recommendation. This material provides general information only. OnePoint BFG does not offer legal or tax advice. Please contact legal counsel or your tax advisor to recommend the application of this general information to any particular situation or prepare an instrument chosen to implement the design discussed herein. Circular 230 notice: To ensure compliance with requirements imposed by the IRS, this notice is to inform you that any tax advice included in this communication, including any attachments, is not intended or written to be used, and cannot be used, for the purpose of avoiding any federal tax penalty or promoting, marketing, or recommending to another party any transaction or matter.
OP 26-0061
