70% of people over age 65 will need long-term care. I hope I’m in the other 30%—but I’m not willing to gamble on it.
That’s why I made a plan.
I’ve set up a Special Medicaid Asset Protection Trust, so if I ever require skilled nursing care, I’ll qualify for Long-Term Care Medi-Cal without having to spend down everything I own.
I also purchased a life insurance policy with a Long-Term Care rider that guarantees $5,205 per month to pay for care when I need it. That benefit can be used for in-home care, assisted living, or memory care—services that often aren’t covered unless you qualify for Medi-Cal.
On top of that, I’ve downsized to a single-story home to increase my odds of being able to age in place. I’ve even talked with my son about what I want, including the possibility of moving to a continuing care retirement community if that becomes necessary.
The bottom line is: I don’t want to be a burden. Planning ahead gives me peace of mind—and gives my family a clear roadmap for what to do if the time comes.
If you’ve been meaning to plan but haven’t yet, give me a call. I can help you create a strategy that protects your health, your money, and the people you love.
