Where Do You Want Your Money To Go?

May 25, 2017

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Step Three:
Design Your Custom Plan and Get Approved


One of the ongoing issues we see people struggle with is whether they have enough money to fund their own long-term care plan. It has been an ongoing claim from many advisors that if you have enough money, whatever that number is, you can simply pay for your own care and not worry about an insurance policy. But the real question should be, where do you want your money to go?
Consider, every dollar used to pay for care is one dollar less to:

  • Generate income to keep future commitments.
  • Pass on to the family.
  • Keep a commitment to a charity or charities,
In short, paying for care disrupts plans to;
  • Minimize or avoid taxes (capital gains, free step up if capital assets are used, increased income tax from IRA distributions)
  • Avoid actualizing losses in a down market.
  • Prevent the liquidation of capital assets.
  • Maximize inheritances.
  • Keep commitments to a charity or charities.

So, do you want your money to go to a caregiver, assisted living facility, nursing home and to Uncle Sam in the form of taxes, or do you want to use your money in other ways? The choice is yours and with new programs, the decision should be easier to make. Today’s plans allow you to set a small portion of your assets aside and protect your entire estate from the high cost of an extended care situation and get your money back if you never need long-term care.

Learn more at 525LongTermCare.com or you can reach us at the office by calling 425-748-8188. 

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