As the number of senior citizens in the United States continues to rise, CPAs and financial planners will be increasingly called upon to help individuals evaluate their end-of-life care strategies. The ideal plan is one which is in place before a medical event makes such care necessary. In this article, the authors detail several planning options for long-term care that professional advisors can assist individual clients with arranging.

This article addresses how CPAs can help individuals plan for long-term senior care, discussing the available options such as long-term care insurance (LTCI) and partnership plans, some of the new “hybrid policies” that combine life insurance and long-term care benefits, accelerated benefits riders for life insurance policies, life and viatical settlements of insurance policies, reverse mortgages, congregate care communities, and Medicaid planning.

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