If you have a family history of certain diseases, your chances of developing them increase. Some conditions—like specific types of breast cancer or Alzheimer’s—are known to be hereditary. Others “run in families,” even if science hasn’t yet confirmed a direct genetic link.
When you’re planning for the second half of your life, it’s important to prepare for the possibility that you could be affected by one of these conditions.
A recent client came to me with that exact concern. Her grandmother and cousin both suffered strokes in their 50s, and while her mother and aunt (now in their 80s) are healthy, she wanted to plan ahead—just in case.
Together, we created a legal plan that would:
- Allow her adult child to step in quickly if she ever became incapacitated
- Preserve her eligibility for Medi-Cal and Veteran’s benefits
- Use the Pension Protection Act to fund tax-free long-term care, if ever needed
We also collaborated with a financial planner to secure an insurance product that will provide over $10,000 a month in care benefits—tax-free. If she never needs care, the funds will go to her children tax-free.
But planning didn’t stop there. She lives with her daughter and a disabled grandchild, and they’ve long considered downsizing. Her other child is committed to caring for the family. So we’re building a plan that lets her move to a one-story home while ensuring her daughter and grandchild can stay in the current home—without triggering tax consequences or harming public benefits.
It’s a complex plan, but worth it. If she ever suffers a stroke or health emergency, she’ll have options—and her family will be protected.
If you want a plan that ensures your family is cared for, no matter what happens to your health, give me a call.
