Helping Your Loved Ones with Long Term Care

Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

Seemingly so much of what we do involves looking ahead into the future. We think about the things we would like to do with our time, the tasks that we wish to accomplish and, sometimes, experiences we’d like to avoid. Aging is unavoidable and is not the most enjoyable topic to discuss – especially with our families as there can be so many emotions and unknowns involved.

This is where having a trusted advisor can become so important to you and your family. Nobody wishes to allot family time to talking about healthcare and lifestyle decisions that will need to be made later in life. The conversations may focus too much on the unknown and the morose instead of emphasizing the proactive solutions that can offer predictability and quality to that period of life.

We feel that the first step in helping loved ones with Long Term Care planning is to have a conversation. But instead of trying to manage it on your own, let us be your trusted advisor by helping you quickly identify the risks to both your financial portfolio and your lifestyle so that a solution may be arrived at.

Due to the many uncertainties of how we will age and what potential costs this may incur, long term care requires planning that can anticipate many different outcomes and condense them into an efficient solution. Therefore, one of the premier solutions we discuss with each client is one of the types of life insurance, Long Term Care Insurance (LTCi). LTCi will not be appropriate for all clients, just as no one financial solution is appropriate for all people. That said, most quality LTCi contracts today will pay benefits into the three major levels of care: in-home care, alternate living care facilities and nursing homes. Additionally, some contracts known as “Hybrid Long Term Care” combine life insurance or annuities with long term care benefits so that the insured’s family is confident – knowing that they will receive value from the policy they invested in. LTCi is a favored solution because it is one asset that is positioned to provide flexible benefits.

When you and your family are ready to start discussing this area of life, please consider including your trusted advisor who can help you identify the risks, the costs of long term care insurance and discuss the different strategies available to help you spend your future time on the tasks and goals you wish to accomplish knowing that you have made provision for the care you may someday need.

Contact a Wealth Advisor

Share:
facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.
Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

RECENT POSTS

The Legal Documents Needed for Your College-Aged Child

Published by Beth Schanou As the school year comes to a close and summer unofficially begins, high school graduates begin the transition to a new stage in their life. For many, final preparations are underway for post-secondary education and possibly getting ready to move, at least temporar …

What are Robo-Advisors?

Published by Don Hagan First and foremost, Robo-Advisors are not advisors at all. This is once again another example of a Wall Street marketing ruse designed to mislead the public into believing they will receive individual attention, help when they need it and optimal risk-managed portfolio design.

Choosing the Right Finance App for You

Published by Andrew Rogers As technology and mobile applications continue to work their way into everyday life, there are numerous budgeting, investing and financial mobile apps whose increasing popularity has sparked an online debate over which app is best to meet your personal needs.

College Planning and Student Loan Debt

Parents want to be able to provide funds for their children in the event they attend college. The most common types of accounts are state 529 plans and Coverdell accounts. Other students will need to use student loans or a combination of savings plans and debt to fund their education.
1 2 3 96 97 98 99 100 106 107 108

Get in Touch

In just 15 minutes we can get to know your situation, then connect you with an advisor committed to helping you pursue true wealth.

Schedule a Consultation