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How Insurance Deductibles Work

An insurance deductible is the amount you, the insured, pay before any claim is paid ...

The post How Insurance Deductibles Work first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Enhancing Estate Planning through Heir Involvement

Estate planning goes beyond legal formalities; it’s an essential process that facilitates meaningful family dialogue ...

The post Enhancing Estate Planning through Heir Involvement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Social Security, Medicare, and HSAs

If your employer health plan is a health savings account (HSA) paired with a high-deductible ...

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Are We Facing a Long Term Care Crisis?

November 16, 2021

The cost of long term care is a top concern for plenty of retirees, but new research shows that we could be facing a potential crisis in the U.S. when it comes to providing it.

The oldest of the baby boomers will starting turning 80 in 2025, more people will need support for their healthcare concerns. Since most people have not planned for the possibility of long term care, this is likely to have the biggest impact on the adult children of those baby boomers.

Being a caregiver comes with many challenges. Most adult children have working lives and families of their own, and depending on their loved one’s caregiving requirements, this can be challenging. Most are not prepared and don’t have the time or the healthcare training needed to help with advanced situations. But family members are often a stopgap method of giving long term care support when a loved one cannot afford a nursing home yet.

Longevity has increased, but outside of Medicaid, there’s no real system in place to help people plan for and pay for long term care. Since it can be so expensive for a person to use assisted living, adult day care, or nursing home facilities, these costs can rack up quickly. For an older married couple, one person’s need for long term can drastically draw down retirement resources when it’s too late to continue contributing to them.

What happens if you don’t have a plan for your own long term care? Now is a good time to look over your existing plans and create a strategy for paying for it just in case. This might include moving other assets now or discussing legal spenddown strategies with your elder lawyer in NJ. Don’t neglect these important tasks if you want to cover your bases and protect your family.


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Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
How Insurance Deductibles Work

An insurance deductible is the amount you, the insured, pay before any claim is paid ...

The post How Insurance Deductibles Work first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Enhancing Estate Planning through Heir Involvement

Estate planning goes beyond legal formalities; it’s an essential process that facilitates meaningful family dialogue ...

The post Enhancing Estate Planning through Heir Involvement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Social Security, Medicare, and HSAs

If your employer health plan is a health savings account (HSA) paired with a high-deductible ...

The post Social Security, Medicare, and HSAs first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more