One way to manage long-term care risk is through a dedicated insurance policy. Long-term care insurance (LTCI) covers care at home or in assisted living, memory care, or nursing facilities—services that standard health insurance and Medicare do not typically pay for. Although roughly 70 percent of people turning 65 will need some form of long-term […]
Continue reading…The Wealth Counselor
Strategies to Help Clients Protect Their Assets If Long-Term Care Is Needed
Long-term care needs can introduce significant risk to a client’s estate and financial plan. Advisors should take a layered approach, integrating strategies that address private-pay options and potential public benefits while preserving client objectives. Not all long-term care risks or planning needs are the same, so asset protection strategies must be evaluated in the context […]
Continue reading…Why Long-Term Care Planning Matters to Your Client’s Financial and Estate Plan
An effective plan for the future goes far beyond controlling and directing asset transfers at death. When structured properly, an estate plan also protects against incapacity during life, ensuring that a client’s medical and financial affairs can be managed without court intervention. But one risk that many estate plans overlook is the potential need for […]
Continue reading…Supporting the Caregiver Client: A Financial Advisor’s Guide to Empathetic Estate Planning
America is facing a caregiver crisis. With baby boomers entering retirement in record numbers and most wanting to age in place in their homes, demand for long-term care at home is rapidly rising. Yet the supply of professional caregivers has not kept pace, leaving many families without reliable support and placing growing pressure on informal […]
Continue reading…The Financial Blind Spot: Incorporating Disability Planning into Every Conversation
Certain topics can be difficult to broach with clients. Delivering bad news such as “You can’t afford to retire yet”; addressing sensitive life events such as death, divorce, or job loss; managing family conflicts; and challenging bad financial habits or unrealistic expectations rank high on that list. Many of these tough talks involve revealing a […]
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