If you served the United States of America as a member of the armed services, you may be entitled to certain benefits that could make some aspects of getting older a little easier.
A one-bedroom apartment in an assisted-living facility will cost you $194 per day–or about $71,000 per year. A home health aide will set you back $25 per hour, or $1,000 for a 40-hour week. Not scared yet?
You make things easier for the children, by planning for the possibility of a nursing home stay because you take the burden off the children to make crisis decisions for your long-term care costs.
Anyone with a child with special needs understands the need to prepare for the future. A trust is always a good place to start, and figuring out a savings goal for that trust is a key part to your planning.
The government realized it can be far less expensive to provide services that allow a person to continue living at home, rather than pay for residence in a nursing home.
If you have a medical issue that will certainly lead to death and significant costs, is it wise to legally divorce ahead of your death, so that the person dying owns very little beyond their health care coverage to protect assets from the likes of the medical insurance community?