Elder Care Attorneys:
Expert Advice From Money Insider Jeff Fleming
Given Audrey's limited financial resources, her first step should be to meet with an elder care attorney who would provide a full analysis of her situation. The suggestion would be for her to complete a financial plan and begin the critical process of getting her financial situation organized. How she allocates any savings that she may have, based on her objectives and risk tolerance, will be critical in case she has to put her husband or mother into a nursing home.
An elder care attorney can also provide Audrey with information about the potential social benefits that might be available to her husband and mother if she should not survive them. In addition to understanding the social benefits that may be available, Audrey may also wish to discuss with the elder care attorney the use of life insurance on her life should additional amounts be necessary to assist either her mother or her husband following her death. However, this could be an expensive option depending on her age and health.
Expert Advice for Audrey
Protecting Assets
Long Term Care Insurance
Medicare and Medicaid
Estate Planning Documents
Elder Care Attorneys, from our sponsor, Merrill Lynch
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