Asked by Angie  |  Submitted August 13, 2015

Besides purchasing long term care insurance, what other steps are recommended in preparing for the possibility of becoming debilitated?

Report Question Report

  Leave Answer

Sign in to MoneyTips
By submitting you agree to our Terms of Service

  Answers  |  2

August 17, 2015

Having an estate plan. Having a health directive, a trust, and beneficiaries stated on all retirement accounts. Perhaps life insurance is necessary to avoid your heirs from selling the family business, or will help in paying estate or final expenses. Power of attorney or trustee agreements may very well need to be established. Everything I've stated involves planning. I see nobody even attempted to answer this - its a loaded question. If you need additional information, don't please don't hesitate in contacting me..... Gregg

$commenter.renderDisplayableName() | 06.17.21 @ 05:21


August 18, 2015

I would agree with Gregg. I would also suggest considering discussing these matters with a Elder Law Attorney, and do some Medi-Cal planning, as needed. If you would not have enough money left for a surviving spouse if one became so debilitated as to need to be in a nursing care facility long term, then arranging for Medi-Cal to assist the affected spouse would be important to consider. Find an Elder Law attorney with a good reputation, and have them help the family before the affected person becomes incapacitated.

$commenter.renderDisplayableName() | 06.17.21 @ 05:21