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Navigating the Costs of Long-Term Care: Essential Strategies for Financial Planning
ARTICLE | September 10, 2024
Authored by Vasquez + Company
With approximately 70% of Americans needing long-term care (LTC) at some point, planning for its costs is essential. This article explores the steep expenses associated with LTC, including self-funding options, LTC insurance, hybrid policies, and life insurance exchanges. It emphasizes the importance of a well-structured plan to ensure that LTC expenses do not deplete your savings or affect your estate plan, alongside discussing potential tax benefits.
Read the full article here.
Our firm provides the information for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. This article is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose
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