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This means the cost of nursing home care is growing at more than double the rate of overall inflation considerations: you may want to leave something to your family and not let your assets be eaten up by long-term care expenses in your final years. There are some newer products called hybrids, which add on long-term care benefits to life insurance Reference: New York Times (December 18, 2015) “Long-Term Care Insurance Can Baffle, With Complex Policies

What end-of-life and long-term care planning should they do? Medicare: The First 100 Days Medicare will cover up to 100 days in a long-term care facility if you parent Medicare will not cover anything beyond 100 days because the program is not for long-term care. Long-term Care: Long-term care is expensive. Do they have an end-of-life plan, long-term care insurance, and an estate plan?

Motley Fool’s recent article, “5 Long-Term Care Myths Debunked,” looks at some common myths about long-term No. 1: I won’t need long-term care. Yes, you probably will. No. 2: Insurance will cover long-term care. No. 3: My savings will cover my long-term care. Not likely. Purchase a long-term care insurance policy.

Paying and qualifying for a long-term care policy depends on a variety of factors, such as your age and Many policies offer different coverage options, so since it’s difficult to know what your long-term care Likewise, if you have any preexisting conditions, you may be not eligible for long-term care insurance There are certain conditions that must occur before you can start receiving long-term benefits. Reference: Quicken (November 8, 2015) “What is Long-Term Care Insurance?”

Will you or a loved one need long-term care soon? Medicaid is the primary funding source for most Americans paying for long-term care, but it is intended Medicaid covers long-term care costs for eligible individuals, including nursing home care, assisted Need for long-term care — If you or a loved one needs long-term care for some other reason, planning Medicaid Planning Strategies Protecting your assets from Medicaid and long-term care costs is crucial

With that in mind, NASDAQ’s article, “Long-Term Care and Wealth Planning for Aging Parents,” points Plan for possible long-term care. It’s not too early to start planning for long-term care. The U.S. care at some point. In fact, some will require long-term care for more than five years. Consider housing options. Reference: NASDAQ (August 10, 2016) “Long-Term Care and Wealth Planning for Aging Parents” #ElderCare

come out ahead—in “Four Retirement Expenses That May Catch You By Surprise.” 1: Medical Co-Pays and Long-Term Care Expenses. As far as long-term care, it’s a major issue. You should speak with an elder or estate planning attorney about the best way to cover long-term care You need to think in terms of giving yourself “raises” and understand that retirement may cost double

No. 2: Declining health results in long-term care. care expenses, like custodial care. Medicaid offers more help with long-term care expenses, but it’s only for those who have low incomes care expenses. Folks should consider long-term care insurance.

Though the aging population continues to get larger, there is more need for long-term care. However, since most elderly Americans do not have long-term care insurance or have the assets to be self-insured Long-term care insurance and pre-planning tools and annuities can help to set you up for later in life If you wish for your life savings to be used for long-term care then you would want to apply right away to help our clients receive the coverage that they need to help care for them long-term.

Elder law encompasses legal issues related to aging, such as estate planning, healthcare, and long-term care. Long-Term Care Planning Many LGBTQ+ seniors will require long-term care at some point in their lives. A Houston long-term care planning attorney could help navigate the complex long-term care system and ensure they receive the care and support they need.

Hegwood Law Group has focused exclusively on elder law, asset protection, estate planning, long-term care planning, probate, guardianship, and special needs planning. We chose “Your Legacy Legal Care™” because we are here for YOU. the establishment of your legal documents, as we will begin having a more direct role related to the long-term care of our clients.

Long-term care planning is something most Americans fail to do for themselves or for their loved ones Statistics show that 70% of people over 65 will need some type of long-term care. In most instances, Medicare will not cover long-term health care costs. The other option is purchasing long-term care insurance. Reference: WIVB (May 4, 2016) “The cost of caring for aging parents: How to plan for long-term care”