Fact or Fiction We can help prevent family-related conflicts by integrating long-term care into your long-term financial plan.

Your Vision
Incapacity Planning
Throughout the last few years, George and Linda have seen several of their friends struggle with the financial and emotional challenges associated with aging parents who don’t have appropriate health insurance coverage or legal protection. George and Linda know that proper planning can help prevent the financial strain family members often face when an aging parent becomes ill or incapacitated. They want to put such a plan in place, so they won’t become future “burdens” to their children.

Our Insight
George and Linda's First Western wealth planning advisor, in conjunction with their estate planning attorney, will help them:

  • Draft the appropriate powers of attorney
  • Review and update your will
  • Create a health care proxy form
  • Purchase appropriate disability insurance
  • Create and implement an estate plan
  • Avoid a conservatorship down the road
  • Determine whether Long Term Care insurance is appropriate
  • Complete a fiduciary agent review
Planning for potential illness or incapacitation is never easy, but it can help prevent family-related conflicts down the road. An important component of your long-term financial plan is a strategy for protecting your legal interests and meeting your health care needs should you become incapacitated. For help making long-term care part of your long-term financial plan, please give us a call.

The foregoing discussion is general in nature, is intended for informational purposes only and is not intended to provide specific advice or recommendations for any individual or organization. Because the facts and circumstances surrounding each situation differ, you should consult your attorney, tax advisor or other professional advisor for advice on your particular situation.

Investment Management products and services are: not FDIC insured; not obligations of the institution; have no bank guarantee; may lose value; not a deposit; no federal government guarantee.

Life Insurance products and services are: not a deposit; not FDIC insured; not obligations of the institution; have no bank guarantee; may lose value.

Return to Case Studies list