We’re always looking for ways to help clients and their families protect their resources from the costs of long term care. The Personal Care Agreement, also called a long-term care personal support services agreement, elder care contract, or family care or caregiver contract, while not permitted in every state, can help both you and the… Read More »
Posts Categorized: Long Term Care Planning
Rising Cost of Nursing Home Care Highlights the Importance of Pre-planning
One of the greatest challenges our clients face is how to protect their families from the rising cost of long-term care. They’re right to be concerned. The median cost of a private nursing home room grew to $97,455 a year, an increase of 5.5 percent over 2016, according to the 2017 Cost of Care survey… Read More »
Reducing Caregiver Stress: 5 Strategies for a Stress-Free 2017
Stress and burnout are common among senior caregivers, both those who are caregiving full-time and those who are balancing the demands of caregiving with outside employment. As we look to the new year, now is a great time to think about strategies you can implement to reduce your stress and avoid burnout in the… Read More »
Having the Big (Financial) Talk with Parents
Your client’s parents have been there for their children all their lives. Now that they’re nearing retirement age, it’s time to return the favor — especially when it comes to their financial well-being. CNNMoney suggests families should talk about their elders’ finances when the parents turn 70 or the children turn 40 (http://tinyurl.com/3hp63tr). Other experts… Read More »
A Niche in “Modest” Families?
I recently read a New York Times article that explores the possibility of focusing a financial planning practice on what the author called “modest” retirement accounts. (http://tinyurl.com/av5lvw9) Of course, what quantifies as “modest” assets to one person could be seen as “great” wealth by another. For Baby Boomers, the market crash and recession couldn’t have… Read More »