It's impossible to predict your chances of needing long-term care, how long you may need it and what implications it will have on your financial health. Since cost of care can be expensive, it's important to understand the whole impact a few years of long-term care can have.
Long term care may benefit:
- Retirees and Pre-retirees wanting to preserve the money they have worked so hard to save.
- Caregivers or Adult Children who want to help protect their loved ones, lifestyle and assets.
- Individuals who may not have someone to care for them or significant assets to pay for these costs.
- Persons with Disabilities or early diagnosis of degenerative diseases (For example- Parkinson's disease or Alzheimer’s disease)
Many think that government programs such as Medicare and Medicaid will pay for all of their future long-term care needs. Surprisingly, they may only pay for some of these services and have many restrictions.
Our special guest speaker Michelle Triplett, Elder Law Attorney at Triplett Law PLCC, explains how to plan the COMPLETE picture: care options, finances, incapacity and estate planning.