As retirees live longer, many worry about outliving their savings. However, many older Americans haven’t planned for a looming expense: the cost of long-term care.
Women face unique challenges as they age. According to the Population Reference Bureau, a Washington-based think tank, women live about seven years more than men. Living longer means planning for a longer retirement.
Increasingly, financial advisors are working with clients from nontraditional families, which can sometimes require different or additional strategies to protect their assets and achieve their financial goals.
Trust funds are not just for the ultra-rich. These sophisticated estate-planning tools can make just as much sense for middle-class Americans who own a home and have a net worth of at least $100,000.
Planning for long-term care can be an intimidating process, especially when it comes to decoding the specifics of resources, like Medicaid and Veterans Pensions. Working with the help of an experienced elder law planning attorney allows people to prepare for the future and save time, money and stress.