More Than Half of American Adults Don't Have a Will, Survey Shows
According to a Caring.com survey, only 42 percent of U.S. adults have estate planning documents such as a will or living trust.
Yes, end-of-life is not a happy topic, but an advance plan is vital for you and your family. It would be best to think about the need for a POA – Power of Attorney for both health and property while you are of sound mind and body.
Essential Things to Do Before Retirement
These are common sense things to do before you retire so you can enjoy the peace of mind of a successful retirement. A future successful retirement should also include a plan for the financial costs and burdens of aging.
Have you completed estate planning documents? It is essential to have a will and power of attorney in place. Read more by clicking here.
We should plan for a successful future retirement before you actually retire. Too many people don't, resulting in chaos and crisis management.
Reduce Stress and Burden on Those You Love
Death, whether expected or not, places stress on loved ones. Some of that stress is reduced when you have the proper paperwork in place. One area people ignore even more than death is long-term health care. The financial impact of long-term care is considerable, and the costs are increasing rapidly nationwide. However, long-term care is not just a financial problem. It is a family problem. The consequences are real as loved ones often become family caregivers. Being a caregiver is physically and emotionally demanding.
Whether you are paying for professional care from income and assets or adult children become caregivers - the consequences are real. Unless you own Long-Term Care Insurance, the responsibility falls on you and your family.
The responsibility of providing care or making decisions for care creates stress. There are physical, emotional, and even financial burdens that your children and their families will face when you need help and assistance due to health, an accident or injury, or just the impact of aging.
Do you want to place your loved ones in that position?
Having wills, POAs, trusts, and a plan to address the impact of long-term health care are all key for your successful future retirement.
LTC Insurance is Key Part of Retirement Plan
Affordable Long-Term Care Insurance will safeguard your retirement savings (401(k), IRA, 403(b)) from the high costs and burdens of long-term health care.
When you own a policy, you own a solution. You will have your choice of quality care in the setting you desire, including in-home care. This takes the stress and burden of dependency off your family. You will be in control and maintain a greater level of independence, and your family will have the time to be family and not be burdened with being your future caregiver.
Hospice and End of Life Care
Long-Term Care Insurance will also provide benefits for hospice. More Americans require hospice care as end-of-life tends the drag on longer and longer.
You could wait but think of the peace of mind you will enjoy knowing you have solid plans in place so your family can be loving and supporting and not be forced to deal in crisis management.
Planning Early Gives You Choice and Control
Most people obtain coverage in their 50s, but some are doing it in their 40s. When you plan in your 40s and 50s, you have many available choices. The time to take action is now ... when you have a choice.
Start your research by finding the current and future costs of long-term care services where you live. The LTC NEWS Cost of Care Calculator is a great place to start. You can find the current and future cost of care where you live. You will also find any available tax incentives and partnership program plans available in your state.
Use an LTC Insurance Specialist to Help Find the Right Plan
An experienced Long-Term Care Insurance specialist will review your specific information and help you find the appropriate coverage that fits your needs, concerns, and budget. Just click here to find your specialist.
Long-Term Care Insurance is easy, affordable, and rate stable income and asset protection. Make sure your family has peace of mind as you get older when you retire. Take action now to safeguard your savings and reduce the tremendous stress and pressure otherwise placed on family members.