John Surguy - Mid Atlantic Resource Group

Planning for care expenses as we age . . .

This article points out some basic information about care expenses that result from aging. As a population most of us have begun to experience this need as life expectancies grow and the prevalence of chronic disease has become significant.

Covering Long-Term Care expenses should be part of everyones financial planning. It is important to use a financial planner that considers all of the aspects of this:

- Costs vary a lot depending upon location.

- There are many solutions available. Insurance is just one.

- While this should be part of your plan at any age, it's best to have an accommodation for this by age 50. There are ways to handle it beyond that age. However, like any other future financial expense, it's best if you have time on your side.

- Solutions vary greatly in cost and effectiveness (which do not necessarily correlate). Make sure you shop around or are using a financial planner that can do that for you. If you have any questions about this aspect of financial planning please reach out to me.

The cost and availability of insurance depend on factors such as age, health, and the type and amount of insurance purchased. Any guarantees are subject to the claims‑paying ability of the issuing insurance company. Before implementing a strategy involving life insurance, it would be prudent to make sure that you are insurable by having the policy approved. As with most financial decisions, there are expenses associated with the purchase of insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely, there may be surrender charges and income tax implications.

Think Medicare Covers Long-Term Care? Here's the Costly Truth. | The Motley Fool Don't let this huge expense catch you off guard.

Announcing the Special Needs & Beyond Community Advocate Program!

As Special Needs & Beyond Financial Planners we deeply enjoy helping families protect their loved ones with disabilities. We also spend a lot of time educating NJ families and organizations about the steps required and how to avoid problems early on.

We frequently get phone calls from families who have inadvertently become disqualified from public benefits or who think they've taken all the right steps just to find the only thing accomplished was lost time and money. These problems do not always have attractive remedies. The value of public benefits can be in the millions of dollars so it is important to protect those and properly plan for all of the contingencies that may impact your family, not just the financial ones.

To provide additional support to the Special Needs Community, we are introducing a community advocate program which will be open to volunteers in each community who will receive annual training from the Special Needs and Beyond team. Our goal is for each community to have someone trusted, knowledgeable, and easy to access that can help identify and prevent issues that usually relate to a very basic understanding of how these problems are created to begin with. If you are affiliated with a school or community group that works with Special Needs families and would like to become an advocate for your community please message me or call me at 908-591-4007.