Plan ahead for your future and protect your hard-earned savings from long-term care.
If you’re concerned about you or your loved one’s future care costs, it’s never too early to start planning. In fact, a long-term care plan is a vital element of any estate plan. With the help of an elder law attorney, advance planning allows you to utilize asset protection strategies and ensure your nest egg is protected, even if a health crisis strikes.
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Since 70% of seniors will require long-term care at some point in their lives, you deserve to have a plan in place to protect your hard-earned savings. Advance planning gives you the freedom to choose from multiple options and secure your financial future in the event of a long-term care need.
Advance planning involves securing a long-term care plan and putting asset protection strategies into motion well before you require care. Since it offers more options and flexibility than Medicaid planning, it is the most efficient way to plan for your care and protect your savings.
In most advance planning scenarios, our network of trusted professionals will recommend one or more legal or financial products to help you preserve your assets as you age.
An assortment of legal products can protect your assets and align with future plans to seek Medicaid benefits if a long-term care need arises down the road.
Financial long-term care planning products are designed to ensure your future care and provide coverage in the event you require long-term care.
In addition to preserving your nest egg, advance planning offers you peace of mind as you age. Growing older comes with new and unique concerns that you might not expect. With a long-term care plan already in place, you won’t have to add paying for care to these worries. Plus, you're taking the burden off of your loved ones, who may have otherwise been responsible to develop a long-term care plan for you.
The best part of advance planning is the flexibility it provides. Most seniors who are planning ahead have multiple legal strategies and financial products they can use to protect their savings in the event they require long-term care. That said, specific recommendations will be tailored to your specific circumstances, including your financial situation and your current health.
For example, a legal professional may recommend an irrevocable trust to shield your money from a long-term care facility. With your savings protected, you can then qualify for Medicaid, if necessary, down the road and avoid the risk of estate recovery. Or, they might recommend Long-Term Care Insurance (LTCI), an insurance policy that provides benefits for a future long-term care stay. LTCI is a great option for advanced planning since benefits can typically be used for at-home care or an assisted living facility, meaning you don’t have to go straight to the nursing home if you’re not ready.
When planning for your long-term care, even the smallest misstep can derail your future. Attorneys, specifically those who specialize in elder law, are well-versed in the legal and financial products needed to protect your nest egg as well as the rules and strategies associated with these products. They can provide a customized plan to preserve your hard-earned savings and achieve peace of mind as you age.
Take a deep dive into the long-term care landscape, find out how you can protect your hard-earned assets, and get answers to your most pressing planning questions.GET MY COPY
Fact: The cost of leaving your assets unprotected far outweighs the cost of an elder law attorney. Plus, when you book with us, your first consultation with an attorney is free!
Fact: If you have any amount of money you want to protect, you can benefit from estate planning and elder law.
Fact: While health and age are factors in qualifying for LTCI, policies are available for applicants up to age 86 and in fair health.
Fact: Long-Term Care Insurance can be customized to your situation. You decide what you want to pay, and a planning professional will tailor a policy that works for you and your budget.
Fact: Retirement planning, end-of-life affairs, and long-term care all involve complicated legal matters. Don’t leave your future to chance by not seeking the proper guidance.