Whether they pass as the result of a prolonged period of illness or an unexpected accident, the death of a loved one is never easy. Many families end up worrying about the costs associated with a decedent’s end-of-life care while they are trying to grieve their loss, and making sense of funeral bills, medical expenses, and insurance can be incredibly daunting. When people pass away after receiving medical care, their family members are often left to wonder what happens to the decedent’s medical debt. Medical debt can take out a significant portion of a deceased person’s estate, but determining who is responsible for paying off this debt if the estate is unable to pay in full can be difficult.

Everyone Would Like to Age-In-Place But…….

As a woman, you will need to think about your future. This includes considering your long-term care (LTC). For example, you may need to take care of your loved ones. This doesn't account for problems life can throw at you, which will pose further problems for your LTC. We want to address some LTC concerns you could face and different ways you can handle them.

A recent Wall Street Journal article (subscription required) by financial columnist Glenn Ruffenach discusses the importance of planning for long-term care and identifies insurance and financial professionals as an important source of guidance for consumers. He says that “your best first step is not to shop for a carrier or policy. Rather, it’s to shop for a knowledgeable, independent agent.”

The costs of long-term care are increasing every year, but most families do not understand what they will be confronting when it is time to start paying for care.