[Excerpt – Page 36]
Long Term Care
If, by chance, and we hope this never happens, but if you needed a little bit more care and were to move into an assisted living facility, you are looking at somewhere between $5,000-$6,000/month. Then, if something really catastrophic happened and you needed 24-hour care, you will be looking at about $8,000-$10,000/month in nursing home costs.
I have many clients that are in a similar position, they are in great health, but we know as we get older, the chances of our health failing really increases. I wouldn’t be doing my job if I didn’t at least invite you to have that conversation. “I want to make sure I am getting the full picture of you and your family so that I can create an estate planning package that is really the best for you. Would it be okay if we could talk a little bit more about the plans that you have made in the event that your health fails?” That is a subject for a whole other book for another time, but we raise the question to get you thinking. Are you going to need long-term care? Where do you want to receive that long- term care, at home or in a facility?
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