Now More Than Ever, It’s Important to Protect Your Life Savings

One of the valuable lessons of the current financial crisis is that there are important aspects of our financial future that are simply beyond our ability to predict or control. 

If the market plunges like it has, the value of any given investor’s portfolio will, in all likelihood, take its own substantial hit.  What seemed like enough savings to assure your ability to leave a financial legacy for your surviving spouse, children, or other loved ones may turn out not to be enough.

Likewise, the prospect of later needing long-term care is something else that, for the most part, you can’t predict or control.  If you have current health issues, you may have some heightened awareness of the risk (or you may choose to live in denial).  But even good health doesn’t offer any particular reassurance.  It may just mean you’ll live long enough to eventually need long-term care.  And, of course, good health now is no guarantee of good health in the future.

Even a well-conceived estate plan may offer little or no protection against these risks. The best-written will or living trust in the world won’t do your surviving family members any good if you die broke or if the State has a first right to your estate for repayment of benefits paid for your lifetime care.

You can either choose to accept those circumstances with a feeling of helpless resignation, or you can face the challenge they present and do something about it.

By developing an asset preservation plan, you can tip the scale substantially in favor of yourself and your family.  It’s a wise investment in your financial security, and it can give you the great peace of mind of knowing that, whatever care needs you may later have, and no matter how much your care ends up costing, you willhave money available to pay for those things that government assistance doesn’t provide, and you will be able to leave a financial legacy for your family.

Wouldn’t that be a wonderful holiday gift to give yourself and your family?

To get started on developing your asset preservation plan, just give us a call.  We’ll be happy to help.