Health Care

Planning for your health care, now and in the future

How to pay for unexpected medical expenses is often the missing piece in many financial and retirement plans. And while it’s fun to think about spending your money to travel, spoil your grandkids, or help a loved one buy their first home or car, it is important to consider what might happen should your health decline.

You can start the planning process by initiating a conversation with loved ones so everyone is prepared to honor your wishes when the need arises.

Some questions to discuss include:

  • What will happen if your health declines while you’re still working?
  • How will your family care for you, and how will your family be provided for?
  • If you need help with everyday functions and tasks, how will that be managed?
  • Will home health care be needed?
  • Will significant changes to your home be needed to accommodate limited mobility or a disability, such as wheelchair ramps or rails inside the house?
  • Will you need to move to a one-story house?
  • Will you need some type of assisted living in a care community, or a private room in a nursing home?
  • Do you want to remain where you currently live , or move closer to family members who can help you while also managing their own lives, careers and families?

We can help you develop a plan to pay for anticipated and unanticipated health care costs. Your Wealth Advisor can work with you to explore your options—including long-term care insurance, life insurance and Health Savings Accounts—to determine effective strategies to ensure that your medical expenses are covered, now and in the future.

End-of-life planning

"In this world nothing can be said to be certain, except death and taxes."

~ Ben Franklin

Mr. Franklin was right. So it’s best to make a plan to ensure your loved ones are cared for, and your wishes are honored. Your Wealth Advisor can review which medical treatments you are willing to undergo, and those you want to avoid, at the end of life, and in conjunction with your estate planning attorney, help you put documents in place (health care power of attorney, living will) to guide your loved ones when you can no longer advocate for yourself.