Creating a Home Care Plan
TO LIVE YOUR BEST RETIREMENT
When retirement approaches, you may be thinking about the freedom you'll enjoy after putting in your last nine-to-five. It’s a culmination of years of hard work and a cause for celebration! Before you get to celebrate, though, it’s important to consider what kind of support you might need down the road. With our generation living longer than our parents, there’s a possibility that we may require additional support services. You and your spouse may not know if either of you will need in-home care, but considering this possibility and the financial factors that come with it can help you better enjoy this exciting phase of your life. In most cases, neither Medicare or Medicaid cover in-home care. There are some exceptions, like home- and community-based services that are state and locally funded and cover those who qualify through Medicaid. If you or your spouse are veterans and meet the requirements, you may be eligible for aid and attendance benefits. These benefits are paid for by the VA in addition to a veteran’s monthly pension. It may cover the costs of in-home care for veterans who require the aid of another person or are housebound. Visit Benefits.va.gov to learn more. Still, you may not want to rely on qualifying for one of these services. Consider adapting your estate plan to include designated in-home care.
Meet with your attorney to review your living trust and see if it addresses a caregiver. Talk to your family members and loved ones about the possibility that you or your spouse may need this service. While a family member may offer to step into that role, consider how easily they will be able to carry it out. Even a part-time caregiver could
provide you with support and make your family members feel like they are not doing it alone. Planning for the care services can help make your retirement even more enjoyable. Knowing you’ll have a close helping hand can ease your family’s worries and even strengthen your bond. possibility that you may need in-home
Upcoming Events
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Retirement Taxes Today Workshop Spring Hill Recreation Center Thursday, March 14 at 7 p.m. or Thursday, March 21 at 11 a.m.
and hope for the best. Planning is the only way to find out where you stand today and determine where you’re going tomorrow. If you’ve ever wondered what’s going on in the background at Campbell Wealth, a lot of it comes down to managing the “blueprint” of every client. We’re keeping everyone on track, managing investments, and making sure portfolios are earning the right amount of return without taking on too much risk. And while you may have a plan in place, and you feel comfortable with that plan, you may know someone who doesn’t have a plan. If you have a friend or family member who would like to know more about the planning process, we’d love to help. After all, if they’re important to you, they’re important to us — and we believe everyone should have a plan going into retirement. Feel free to share us with those who mean the most to you!
Wise Women's Guide to Financial Planning SHRM Building Wednesday, March 20 at 6:30 p.m. or Wednesday, March 27 at 11 a.m.
Kelly Campbell
Call Us Today (703) 535-5300 • 3
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