November is Long-Term Care Awareness Month, a good time to consider how an unexpected health event could impact your family and finances.
Even for high-net-worth families, the cost of long-term care can create challenges. A private nursing home room now averages over $100,000 per year, and the majority of adults over 65 will need some form of care in their lifetime.
Without a plan, care decisions often fall on loved ones, leading to emotional and financial stress at an already difficult time.
Why Planning Ahead Matters
Long-term care planning is about more than covering future expenses. It’s about protecting your wealth and preserving your family’s well-being. Thoughtful planning helps you to:
- Protect your assets from being used unexpectedly for care costs
- Ensure your wishes are honored and care decisions are clear
- Reduce stress on family members who might otherwise have to step in under pressure
Peace of Mind Starts with a Plan
No matter your stage of life, having a strategy in place ensures you stay in control of your care, your assets, and your legacy.
If you’d like to review your long-term care options or explore how a revised strategy could fit into your overall wealth plan, our team is here to help.
