Most people understand that estate planning covers what happens to your assets when you die. Long term care planning, however, involves what happens if you live, and require professional in-home care or a stay in a long term care or assisted living facility. Unfortunately, our health care system was not set up to provide for us should we become incapacitated. If you’re diagnosed with a chronic illness, like Parkinson’s, stroke or dementia, you and your family will be required to provide for your needs. To complicate matters, Baby Boomers (“The Sandwich Generation”) are often in a difficult position as they may still be caring for their children at the same time as they need to care for their parents. It is the goal of long term care planning to make the assets which were accumulated over your lifetime last as long as possible.
Mr. Nation will assist you in defining steps to take to best prepare you and your loved ones to take maximum advantage of your resources should you ever need long term care.