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Wealth Control Advisors
Rosenheim Financial Services
60 William Street, Suite 200
Wellesley, MA 02481
781-263-4568 MA telephone
781-235-8890 private fax
8451 Egret Lakes Lane
West Palm Beach, FL 33412
561-691-1380 FL telephone
info@wealthcontrol.com
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Long Term Care Economic Impact Study
What is the impact of long-term care on you or your family? Wealth Control Advisors, an insurance consulting and financial services firm based near Boston, Massachusetts, (and another location in West Palm Beach Florida) can show you the economic impact on your finances and help you determine what long care options are available to you to deal with this potential extended care claims risk. Our succession planning
services help you develop, document, and fund a plan that ensures a smooth leadership transition, eliminates confusion, and gives your business's next generation of leaders a valuable head start. For more information, contact us online or call us at 781-263-4568.
The Big Picture Dilemma
- What plans does your family and/or you have should you get sick or injured and still live a long time?
- Where do you want to receive care?
- Who should provide the care, your family or an outside professional organization?
- Have you discussed long-term health care issues with your family?
- How are you going to pay for this care?
- How is the cost of such care going to affect your family?
The Financial Risk:
- "A third of Americans who are impaired enough to collect benefits from a long-term care insurance policy are under age 65"
Source: Kaye, H. Stephen, Charlene Harrington, and Mitchell P. LaPlante. "Long-Term Care: Who Gets It, Who Pays, and How Much?" Health Affairs, January 2010 29:1, p. 13.
- Have you calculated the cost if some form of care (nursing home, home health, assisted living, or home health care) is needed?
- Have you assessed the impact on your retirement asset accumulation if you need care before age 65 due to a stroke, heart attack or cancer, etc?
- If your children want to provide care, have they determined the impact on their personal and financial job security?
- Is asset liquidation a wise personal or family business decision?
- Are you aware that Medicare does not provide anything other than very limited short-term benefits and no custodial long-term home care benefits?
- Should you self-insure or insure this health care risk with long-term care insurance?
The Emotional Concern:
- If you need some form of care during your life, will that become be a complicated burden to your spouse, children or partner?
- Will selling heirloom and other assets cause a problem for the healthy spouse?
- Will the healthy spouse lose confidence and optimism, or emotional well being if you need long-term care that has no end in sight?
More information is available about our Auditing Services, or you can read about our comprehensive Tailored Services. Alternatively, read Case Study 1: Prominent Physician and his Mature Family.
To learn more about our auditing services, call us at 781-263-4568 or email us.
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