Should I consider long-term care insurance during the estate planning process? | Freilich Law | Michael Freilich | freilichlaw.com | (410) 321-0040
It depends upon what you have, how you own it, and your health, and looking at the whole situation, an estate planning attorney goes into the area of LTC. Long-term care insurance. It depends what assets you have, if it’s required, and if so, what type of policy would be best for you, and its cost. Absolutely positively unconditionally consider LTC or long-term care insurance, but also bring in an insurance advisor who’s familiar with that marketplace, and your attorney should be able to refer you to somebody who’s extraordinarily knowledgeable. Those products shift and change every couple of months, and you need to stay on top of it. Not that you would buy a new policy every couple of months, but when you need it, what is then and there available in the marketplace. The younger you are when you purchase it, the less expensive it is per unit. I urge everyone to consider long-term care insurance as a necessity.