How Do I Plan for My Incapacity? – Annapolis and Towson Estate Planning

What would happen if you were mentally or physically unable to take care of yourself or your day-to-day affairs? You might not be able to make sound decisions about your health or finances. You could lose the ability to pay bills, write checks, make deposits, sell assets, or otherwise conduct your affairs. Unless you’re prepared, incapacity could devastate your family, exhaust your savings and undermine your financial, tax and estate planning strategies.

Alternatives to Medicaid – A Short Primer on Long-Term Care Insurance – Annapolis and Towson Estate Planning

With Medicare covering about 1/5th of nursing home care in the U.S., elderly individuals are forced to look at alternative means to cover skilled nursing and other long-term care needs.

How Can I Plan for Medical Expenses in Retirement? – Annapolis and Towson Estate Planning

A key to retirement planning is anticipating how spending habits may change in later years. Housing costs, for example, may decrease if one downsizes, but other expenses may consume a larger share of retirement assets than planned.