TY - JOUR T1 - Long-Term Care Planning Is More Than an Insurance Topic: <em>Developing a Written Plan for Long-Term Care</em> JF - The Journal of Wealth Management SP - 37 LP - 40 DO - 10.3905/jwm.2009.12.1.037 VL - 12 IS - 1 AU - Allen Hamm Y1 - 2009/04/30 UR - https://pm-research.com/content/12/1/37.abstract N2 - Long-term care planning is an essential area of service for financial professionals because they are entrusted with thoroughly protecting the assets and estates of their clients. The author starts with the observation that, as America’s population continues to age, the need to integrate long-term care (LTC) planning with financial and estate plans cannot be overlooked. Ignoring this risk can have negative implications while clients are alive, of course, but it can also result in loss of inheritance, repayment of long-term care costs to the government through estate recovery programs, and other negative estate transfer issues. The author notes that two of the objectives of financial/estate planning and LTC planning are the same: asset protection and preservation of legacy. Financial professionals, including financial planners, wealth managers, estate planning attorneys, and CPAs, are in the best position to assist clients with initiating the development of a written plan for long-term care.TOPICS: Wealth management, legal/regulatory/public policy ER -