Long-Term Care Necessary?
The listener's mother needs to get long-term care on her health coverage, whether she has $1 million or not.
ANSWER: Yes! She also needs an estate planner immediately. Long-term care is absolutely mandatory for people 60 and over. Your mom could live another ten years and need medical care that adds up to $50,000 a year. You have to get long-term care whether you’ve got $1 million or not. Long-term care is a good asset management plan.