Why We Fail to Plan for Long-Term Care

  Most Americans do not know, or refuse to accept, the facts surrounding their potential need for long-term care and the costs associated with it. This was reconfirmed recently in a telephone survey of 1,735 Americans over the age of 40, funded by the SCAN Foundation and conducted by the Associated Press (AP) – NORC…

THE COSTS OF DEMENTIA: FOR THE PATIENT AND THE FAMILY

A recent report from the Alzheimer’s Association states that one in nine Americans age 65 or older currently have Alzheimer’s. With the baby boomer generation aging and people living longer, that number may nearly triple by 2050. Alzheimer’s, of course, is just one cause of dementia—mini-strokes (TIAs) are also to blame—so the number of those…

Creative Financial Approaches to Long Term Care

Long term care insurance was sold aggressively in the 1980s, 90s and thereafter to offset the costs of seniors needing to live in a nursing home, assisted living or needing at home health care. Now, however, the business of long term care insurance has dramatically changed. What was once over 100 insurers providing LTC policy…

Don’t Let Your Car Accident Become a Train Wreck

There are thousands of reported car accidents, injuries and hundreds of fatalities every year in Kentucky. Car accidents are so frequent that they are a leading cause of injury and death. Moments after a car accident can be traumatic, frustrating, and confusing. You can be left with injuries and property damage and concerns about the…

Breaking Down Power of Attorney Misconceptions

A durable power of attorney is one of the most important estate planning documents you can have.  It allows someone who you appoint (your agent) to make decisions on your behalf in the event you become incapacitated. If you have not appointed an agent then your friends and family may not have the authority to…

ADVANCED CARE DIRECTIVES: ARE THEY NECESSARY?

Most of us don’t like to think about the possibility of something harmful happening to us or a loved one. Because of this, we rarely think about how to protect ourselves and our loved ones if the worst were to happen. However, just as it is important to buy home insurance to protect your home…

5 Things to Include in an Estate Plan

Estate planning is important for people of all ages, but as we age, the need for planning becomes even more critical. Many people avoid estate planning because they do not want to think about the end of life, failing health or disability. Others believe that an estate plan is only for rich people. However, an…