Schedule Your Estate Planning Consultation OR "Don't Go Broke" Strategy Session 404-419-7155

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315 W. Ponce de Leon, #600
Decatur, GA 30030, USA


Right Now Is The Best Time For A Financial Assessment

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If you are nearing retirement age and have never had a financial assessment, the time is right to schedule one as soon as possible. If you’re in good health, you’ve probably been putting it off for years, and if you have a 401k or other retirement plan you may think you’re in great shape financially. On the other hand, if you’re not in the greatest of health and have not had a financial assessment, how can I say this? You simply cannot schedule one fast enough!


The Future’s Not Ours To See

No one knows what the future holds. Not a single person can anticipate a fall that might change their health status. No one can anticipate whether they will suddenly be diagnosed with dementia or early on-set Alzheimer’s. We simply have no idea how the future of our health will unfold. Of course, most people do their best to stay as healthy and vibrant as possible. But, because we cannot see the future, we must do our best to be prepared for the worst possible scenario. The beauty of this is that many people are not faced with the worst possible scenario.


Be Prepared Is A Great Motto

Back in 1910, Lord Baden-Powell wrote in the original Boy Scout Manual, Be Prepared. Since then it has been the scout motto. This motto can serve everyone throughout life. Being prepared means you are always in a state of readiness in mind and body to “do your duty.” Every parent’s duty is to make certain they are not placing a burden on loved ones through lack of planning for end of life healthcare needs.


Long-term Care Assistance

When you are healthy it’s difficult to think about needing long-term care. However, in reality, one in every two people (50%) will need long-term care assistance.  This is when a financial assessment can help you understand exactly what long-term care can include and can educate you about the traditional ways people pay for long-term care along with some new options.


Most people, when asked, would prefer to remain at home and be cared for if they become incapacitated. Long-term care can include home health care as well as adult day programs. It can include independent living facilities, assisted living facilities and nursing home care.


Traditional ways to pay for care include personal savings, “traditional” long-term care insurance, Veteran’s benefits and Medicaid benefits. Unfortunately, traditional long-term care insurance is not being purchased for several reasons. Right at the top of the list is the fact that annual premiums are quite expensive. Add to that the fact that if you don’t use the policy then you lose all the money you invested in it and surviving family members do not inherit it. And like I mentioned, it’s difficult to imagine needing long-term care when you are healthy and you won’t be eligible once you have a chronic debilitating illness.


There are other ways to pay for long-term care. Due to the strain on Federal and State budgets because of the use of Medicaid, the federal government has created very attractive tax incentives and options for people to leverage their own funds to pay for care. Because people are not aware of these options, they often wait for a crisis, spend down assets needlessly and then seek other resources such as VA and Medicaid benefits.


We can perform a free financial assessment to determine if your situation is a good fit for asset leveraging and tax savings. Give us a call today. The sooner you plan, the more well-prepared you will be, and your family will live with a great sense of relief.