Planning for Long Term Care Is Concerning

As you get older, you and your family may worry about who will take care of you and how to pay for it.  Long term care insurance may help if you can qualify and afford it.  However, there are other options families can consider.  Planning in advance allows you to be part of the process and set out your wishes.  Such pre-planning may include gifting of assets and the utilization of certain irrevocable trusts.  It is also important that you have certain documents in place to allow others to help plan and protect your assets, to the extent possible, when you are no longer able to do so yourself.  Making matters more complicated is the interaction between health insurance, long term care insurance, Medicare, Medicaid, and potentially Veterans benefits.  It is important to consider your options and then decide what is the right plan for you.