Know What You're Planning For

When people hear the term "estate planning," they generally think it's one of those things that adults do. They think it's a positive step for their family. But they usually know very little more than the tools of estate planning. The wills, the powers of attorney, the trusts.If the same people hear the term "long-term care planning," they may write it off as irrelevant to them. But did you know that one in three people will have dementia in their later years of life? Did you know that an accidental fall after the age of 65 comes with a 30% rate of death within one year? Are you familiar with how common cardiovascular disease is?When you realize how common these later-in-life health issues are, and how expensive it is to care for someone with those issues, you start to understand that estate planning is long-term care planning. This episode focuses on knowing exactly what you're planning for, so you can shield yourself from predictable threats.