Two Things You Can Do to Prepare for a Long-Term Care Event
We’re not invincible (even if we like to think we are)
The need for long-term care caused by an incapacitating illness, a fall, or cognitive impairment such as dementia, to name a few, can be a difficult thought. These long-term care events have the potential to negatively impact our finances, put stress on our family and friends, and make the future unclear. The pressure of these events can be eased through well thought out preparation. Here are two proactive things you can do to protect your future:
1. Obtain proper legal documents: In instances where you are unable to make decisions for yourself, documents such as a power of attorney or advanced medical directive can ensure your wishes are executed the way you want. See a qualified estate planning attorney to prepare these documents for you or ensure your documents are up-to-date.
2. Plan for the costs: Receiving care is expensive and a lack of planning can create a financial disaster, draining retirement assets quickly. A qualified financial planner can assist you through the planning process to ensure you are well prepared. For helpful facts visit LongTermCare.gov.
One Degree Advisors helps people who are committed to connecting plans for their finances, family, and future. Schedule and appointment to talk with an advisor and learn more at: onedegreeadvisors.com
Advisory services offered through One Degree Advisors, Inc. Securities offered through Securities America, Inc., Member FINRA/SIPC. One Degree Advisors and Securities America are separate companies.