"Separately, for older married couples where one spouse is impaired, assets can be quickly depleted or divested to pay for professional care potentially impacting the surviving spouse and heirs. In either case, the retirement plans of the extended family are at severe risk," said Schoonveld.Spickler observed that "Too many people, for a variety of reasons, end up not preparing for long-term care and are forced to make rushed and very expensive decisions almost overnight. The result can put huge amounts of assets at risk, bring about a rapid draining of financial resources and endanger the stability of a family."
Panel Encourages Advisors To Educate Clients On Protecting Assets While Preparing For Long-term Care Issues
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