Family Risk

Family risk includes a variety of possibilities.  Many problems can occur after an aging parent(s)’ decision-making ability has begun to diminish and decision-making is officially, or unofficially, deferred to loved ones.   Right or wrong, decisions that impact the parent(s)’ nestegg and potential inheritances are a major source of dissention within the family and can negatively influence decisions about your care.

By far, the biggest expense to affect the nestegg of an aging parent is Long Term Care.   Even when one child is given authority over care or financial decisions, all children and loved ones may feel that they deserve to have their say in these decisions.  Compounding the complexity of these decisions is that fact that no one knows if care will be needed for one year, four years, or ten years. Even in today’s dollars, care can easily cost over $100,000/yr.   While it may be your nestegg/savings, the paramount concern of some children will be the perceived impact on their inheritance.   Disagreements among children often reignite old sibling battles/rivalries and can permanently divide siblings. At the end of one’s life, family is most important and family discord is the last thing a parent wants to see. 

By using LTC Insurance, the financial concerns about the cost of care are reduced. You want the key concern of family members to be the quality of your care rather than the expense of your care. We all deserve to end a good life with quality care which is a necessary component for Quality of Life.  Knowing that you have proactively planned to best assure your intended inheritances while leaving behind a harmonius family is a legacy that you can be proud of.