By the time you’ve hit age 65, you’re probably ready to start thinking about retirement. After decades in the workforce, you might be ready to kick back and enjoy the fruits of your labor.
However, retirement can come with many concerns. Do you have enough money saved up to live the rest of your life? What if you live for two more decades? Three? Will you run out of money before you run out of life?
This is one of the concerns that Estate Planning tries to address. However, there’s an additional problem that can make planning more difficult: health care issues.
The extremely high costs associated with health care during your retirement years can have a major negative effect on your finances, but most health care problems are unpredictable.
How do you predict the unpredictable?
There are many ways to plan ahead to protect your assets from the catastrophic costs of health care.
Medicaid Planning and Veteran Benefit Planning can help pay for the high costs of home care, assisted living facilities, and nursing homes. In doing so, this helps you stop financial bleeding and not go broke simply because they or their spouse happen to become ill. For this reason, you are going to want to meet with a law firm with expertise in both Estate Planning and Elder Law.
The Siegel Law Group, P.A. has practiced both Estate Planning and Elder Law for nearly 20 years. If you’d like information on how your Estate Planning can impact your benefit eligibility, call us at 561-955-8515 or 855-FLA-ESTATE.