Clients Express Fears About Long Term Care Needs

Most people recognize that the rising costs of long term care will certainly impact their retirement planning abilities and their lives in older age. However, approaching long term care planning is notoriously difficult, especially when many clients are concerned or scared to discuss it to begin with.

Many consumers simply need to come to terms with the fact that they need to plan. There are many different options available when it comes to long term care planning but waiting until it is too late can expose the patient as well as family members to unnecessary stress and financial problems. Many different approaches can be used to help broach the topic, but a recent study found that clients are not receiving appropriate LTC advice.

Among widows and widowers, one out of every five participating in a recent study indicated that long term care planning advice was included as one of the services provided by a financial advisor. Long term care insurance is not the only option available for people considering looking ahead to their older ages and protecting themselves and their family members.

However, because of the many misconceptions associated with long term care planning and many people’s beliefs that only expensive long-term care insurance can cover it, far too many people put this decision off until it is too late and make it difficult for their spouse or their loved ones to receive the assets and support intended.

Scheduling a consultation with an experienced long-term care planning lawyer is strongly recommended for anyone who is contemplating protecting their own interests and assets for many years to come. A consultation with a lawyer can clarify many of the misconceptions surrounding long term care planning.