Frequently Asked Questions
Clear answers to help you navigate income care plan and asset protection.
Do we need a Care Gap Plan?
If your family is facing escalating long-term care costs and you are worried about depleting life savings to cover them, a Care Gap Plan is essential. Proper financial structuring can legally protect your savings while ensuring quality care.
Who is this review for?
Our review is designed for families who are currently paying for long-term care out of pocket (or anticipate doing so soon) and are concerned about the growing gap between their income and these care costs.
What is reviewed during the process?
We review the individual’s current health status, care needs, monthly income, total assets (including property, savings, and investments), and the current burn rate of funds to determine the exact ‘care gap’.
Is this only for people already in nursing facilities?
Not at all. In fact, reviewing your options while receiving paid care at home, adult day care, or assisted living gives you more time to implement asset protection strategies effectively before a crisis hits.
What happens after the review?
You will receive a clear assessment of your timeline and options. If a Care Gap strategy makes sense, we will outline the exact steps. You then decide whether you want to proceed with implementation. There is no obligation.
Will the state take our house?
The family home is often exposed during major health events and long-term care needs depending on the spouse’s situation. Proper income care plan can legally protect the home from being drained or recovered to pay for facility costs.
Is it too late to plan if my parent is already in a nursing home?
It is rarely too late. While earlier planning offers more options, there are ‘crisis planning’ strategies available that can still close the gap and protect a significant portion of remaining assets.
Still have questions?
Every family’s financial situation is unique. Let’s talk about yours.