Should the need for long-term care (LTC) happen to you or your spouse, what plan do you have in place?
Understanding long term care is simply the healthcare costs associated with the costs of home health care (most comfortable setting), assisted living, or skilled nursing care. Most people assume Medicare or private health insurance will help pay these costs, or perhaps the government will step in to help. This misconception is far from the truth. One must begin to plan at early stage exactly how they anticipate paying for such care after traditional coverages are exhausted.
If Medicaid (healthcare for the impoverished) is not an option for you and you do not believe traditional long-term care insurance is an option, we can show you how to use assets you already have (cash, CDs, annuities, stocks, IRAs and life insurance) to fund or leverage a long-term care plan. By using wealth transfer solutions, you can shift assets from one pocket to another and leverage their value for a long-term care expense.
Contacting one of our advisors for a no cost consultation is the best first step you can take. Healthcare and insurance are changing rapidly and the sooner in life one chooses to face the reality of long-term care costs, the sooner a feasible and affordable plan can begin to take shape. Waiting to take the first step will only negatively impact your spouse and family members.