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Questions to Ask Your Financial Planner

Putting your affairs in order and planning for long-term care expenses are the major components of financial planning.

As Baby boomers age and live longer, even living to be 100 is going to potentially create a need for more care.  Yet most families just don't discuss their financial plans for their estate or their care.

We will urge all readers to take time to set up an estate plan with an attorney and all your legal forms in order:  Trust if it is Warranted, Durable Power of Attorney, a Will, and a Health Care Proxy.

Questions to Ask

As you meet with financial planners and estate planning attorneys, you need to ask the right questions to make sure you have a plan.

  • If I have an unexpected health issue that creates the need for long-term care, what will happen to my current plan?
  • Do I need and when should I purchase a long-term care insurance policy?  How much will it cost?
  • How much do I need to save every ear to be able to pay for long-term care?
  • Do I have enough savings to cover my costs of retirement?
  • What will my children inherit from all my insurance policies?
  • Can I afford to self-insure?
  • How long will it take for long-term care insurance to start paying?

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