I Just Got a Rate Increase on my Long Term Care Insurance Policy
           It’s a call we are getting with increasing frequency. Jim just received a letter from his long term care insurance company that they are increasing his premium by a whopping 60%. If that’s not bad enough, the letter warns that he should expect further increases in future years.            Jim
Why Won’t the Government Cover My Care?
           It’s a comment we get frequently when someone calls our office just after getting sticker shock at the cost of their loved one’s long term care. Some get angry upon hearing that, if they have assets but no long term care insurance coverage, they’ll need to use their own
The Problem with IRAs – The Solution
           So, what is the solution to Bill’s IRA problem from last week? He has $1.2 million in IRA money and doesn’t want to risk losing it all to long term care if he gets sick. But protecting it by moving it to a trust will cause him to pay
The Problem with IRAs – Part 2)
           Last week I was explaining the problem with IRAs and long term care. If you need care at $125,000 per year or more but want to protect your IRA, what are your options? It’s always easiest to illustrate by way of an example.            Bill has an IRA worth $1.2
How to Self Insure for Long Term Care (Part 2)
           Last week I was telling you about using your own money, what we call legacy assets, to self-insure for long term care. This week I’ll walk you through an example of how that can work.            Mary is 73 years old. She has high blood pressure, for which she takes
How to Self-Insure for Long Term Care (Part 1)
           It seems that every year we receive more calls from our clients who have long term care insurance but are struggling with the decision about whether to keep it in the face of rising premiums. The story I wrote about the past two weeks is an example of someone
Do You Know What’s in Your Long Term Care Insurance Policy? (Part 2)
           Last week we were talking about Bob and his dad, Jim. Jim had always told Bob that he had long term care insurance to cover the cost of his care. However, now Bob was discovering that the policy isn’t what Jim represented it to be.            As I explained last
Do You Know What’s in Your Long Term Care Insurance Policy? (Part 1)
     Bob’s dad, Jim can no longer stay in his home alone. His dementia is advancing and Bob is now ready to move Jim to an assisted living facility. Jim had always told Bob not to worry about how to pay for care if he needs it because he has
Dangers of the Due on Transfer Clause
           To follow up on the same topic of the past two weeks, transferring the home, recently we received a call from George regarding the transfer of his home to a trust. He received a letter from the bank holding his mortgage, stating something about the due on transfer clause.           Â
A Personal Story
               About a month ago, my parents’ health took a sudden turn and it led me down the path that many of our clients and their families face, tackling long term care.  In our case, it was an accident outside their home.  My mom broke her leg. My dad suffered