“Fortunately, solutions are available to help those who failed to plan. A fast-growing area of long-term care planning is ‘crisis management.’ Strategies are available for financial and legal advisors to help families pay for the costs of long-term care. Among them: settling life insurance policy death benefits into a structured vehicle that will pay for the costs of senior retirement living and long-term care.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Hopefully, more people will choose this option than the far-more-common method of “crisis management” promoted by Medicaid planners: shelter or divest and let welfare pay the rest.
A long-term care plan for clients who have failed to plan