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Dealing With Long-Term Care Bills [Episode 113]
Attorney-CPA Joe Cordell and co-host Susan Arthur discuss
the various elements to long-term care and the various methods involved in
paying for it. They break down the monthly costs of assisted care and nursing
home care and how city care can differ in cost and quality from rural care.
Joe and Susan talk about long-term care insurance and how
the costs of prescription medications can impact your finances. They also touch
on the possibility of being able to afford paying for long-term care yourself
and how many make assumptions regarding having your children assist in paying
for the costs of long-term care.
Joe talks about the assumption of financial risk when you
are younger and planning for the future, and highlights the differences between
the advice he may give to someone younger and able to take the risks versus
someone older who cannot afford to take on financial risk.
Joe and Susan talk about qualifying for government programs,
such as Medicaid, in order to qualify for long-term care. They talk about the Medicaid
planning process, as well as the utilization of irrevocable trusts.
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By Life's Third Act
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Attorney-CPA Joe Cordell and co-host Susan Arthur discuss
the various elements to long-term care and the various methods involved in
paying for it. They break down the monthly costs of assisted care and nursing
home care and how city care can differ in cost and quality from rural care.
Joe and Susan talk about long-term care insurance and how
the costs of prescription medications can impact your finances. They also touch
on the possibility of being able to afford paying for long-term care yourself
and how many make assumptions regarding having your children assist in paying
for the costs of long-term care.
Joe talks about the assumption of financial risk when you
are younger and planning for the future, and highlights the differences between
the advice he may give to someone younger and able to take the risks versus
someone older who cannot afford to take on financial risk.
Joe and Susan talk about qualifying for government programs,
such as Medicaid, in order to qualify for long-term care. They talk about the Medicaid
planning process, as well as the utilization of irrevocable trusts.