Recent studies have shown that over 70% of us will have need for Long Term Care (LTC). Have you planned for that event? 93% of us do not have Long Term Care insurance. How can you protect your assets from these types of events?

Contact us to set up an individual assessment and for plans that fit your budget and needs.

Why should I plan ahead?
By planning ahead there are many more options that you have. If you wait until that event occurs, then you are in crisis planning. Many times under stress we make decisions that are not the best decisions. By consulting with professional advisors, becoming familiar with the different nursing homes and assisted living facilities in your area, you can create a plan that will save you time, money and give you peace of mind.

How much does a Nursing Home or Assisted Living facility cost?
This figure varies depending on the state and city you live in. However, you can expect to pay around$2,000 to $4,000 for an Assisted Living facility. A nursing home will cost signficantly more, expect to pay $6,000 to $9,000 per month, and some places in the country pay over $15,000 per month. If you have not planned ahead, acquired Long Term Care insurance and also protected your assets, you could run out of funds very quickly. Over 1,000,000 seniors go broke in less than a year of entering a nursing home.

What is Medicaid, and how will that help our family with medical bills?
Medicaid is a Federal and State funded program that helps pay medical costs for those that can not afford to pay on thier own. There are many in-depth rules and they are different depending on if it is an individual or a married couple involved. In general, if it is an individual that has to go into the nursing home, then the house and car and all other assets will have to be sold, a process know as the "Spin Down." Most of the time you will have to cash in your life insurance policy to "Spin Down" the cash value inside of that policy! This will leave your family a burden to pay for your funeral expenses when you pass. Make sure you read the page on Irrevocable Funeral Trusts that can save your family from this financial burden!

If I know that my spouse (or anyone I care for) will be going into a nursing home, what can I do to protect assets?

Pre-planning is so important, but if you are in crisis planning right now..... Contact us!

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