For someone turning 65 years old, there is a 70% chance that they will need long-term care during their lifetime.1 This means that end of life care, and the costs associated with it, will be part of almost every one of our clients' lives.
Even for wealthy families, these costs can significantly impact estate planning and financial well being. In 2018, the U.S. median cost of one year in an assisted living facility was $48,000. For a private room at a nursing home, it was $100,375.2 For this reason, elder law and end-of-life planning is an important topic to address well before long-term care and power of attorney agreements are needed.
We recently hosted a webinar on this topic. You can watch the on-demand recording of this webinar to learn...
1 U.S. Department of Health and Human Services, How Much Care Will You Need?
2 Genworth, Cost of Care Survey 2018
Brandon Thomson
Brandon Thomson is an attorney that is focused on helping families feel confident when faced with the challenges presented by long life, illness, and disability. Through years of practicing law and the experience of family members, he brings expertise to clients when navigating end of life care issues.
Oliver Stahl
Oliver has been a member of the Telemus team since 2018. As an Associate Financial Life Advisor, Oliver plays a key role in supporting our clients by creating financial life plans and providing portfolio performance reporting and analysis.