Escobar & Associates
Speak to an attorney 24 hours a day free consultations

Long-term care a part of estate planning in Nevada

There are many costs that people in Nevada face as they age. Among the most expensive is what is needed to pay for medical care near the end of life. In fact, long-term care can cause stress to some families who must pay for the needs of their loved ones. This is one of the reasons that such needs are being added to many of the documents created by those working in estate planning.

Traditionally, in Nevada and elsewhere, estate planning includes the creation of documents such as wills, powers of attorney and those used to create trusts. Now, some are adding long-term care planning. This can come in the form of an insurance policy, though a recent report notes that only a few companies remain selling these types of insurance plans.

Others find it helpful to buy a rider to their life insurance policies that pay for long-term care. This type of insurance is a new area of growth, the report notes. In addition to insurance, there are other options, including placing ownership of assets in a trust or making funds available in estate planning for this type of medical care.

The options for people considering estate planning in Nevada are many. Because it can be difficult to consider all potential issues that a plan needs to cover, some find it important to complete a review of available options before entering into the process. This is an effort that can pay off when the needs of an individual in Nevada are cared for while they are alive and their assets are distributed according to their wishes when they die.

Source: The Press Democrat, Fewer Americans buying long-term care insurance, Robert Digitale, Dec. 8, 2013

No Comments

Leave a comment
Comment Information
  • Martindale-Hubbell | Top rated lawyer in Tampa | Richard Escobar | For Ethical Standards and Legal Ability | Martindale-Hubbell Top rated lawyer
  • Top Lawyers 2016 | Richard Escobar
  • Top Lawyers 2016 | Dino Michaels
  • Highest Possible Rating in Both Legal Ability & Ethical Standards | AV |AV Preeminent | Richard Escobar | 2016
  • Judicial Education | AV | AV Preeminent | Richard Escobar | 2016
  • CLIENT | DISTINCTION AWARD | Dino mike Michaels, Esq. | Recognized for Excellence | Quality of Service | Overall Value | Responsiveness | Communication Ability
  • 15 | YEAR | Anniversary | Proudly Serving | the Community | Since 2001 | Dino Mike Michaels
  • 10 Best 2018 | Richard Escobar | Client Satisfaction | American Institute Of Criminal Law Attorneys

Office Location

Escobar & Associates
2917 W. Kennedy Boulevard
Suite 100
Tampa, FL 33609

Phone: 813-513-0274
Fax: 813.877.6590
Map & Directions