Elder Care Planning As your Financial Advisor, our responsibility is not only to assist you in accumulating assets, but to make sure we have taken the necessary steps to protect those assets.Long-term health care costs, perhaps more than inflation, can be one of the common causes of ruining your retirement plan. We believe there are no other unprotected risks that might result in a person involuntarily losing his or her hard-earned assets.According to the New England Journal of Medicine’s Study, "43% of all Americans over the age of 65 will spend time in a Nursing Home." That doesn’t count those who are receiving care at home or in day care centers. The average nursing home stay exceeds 20 months with an average costs exceeding $3,000 per month. Medicare pays very little, if any, for Long-Term Care and to qualify for the only other government program, MEDICAID, requiring you "spend down" your assets to nearly nothing.In view of the probability and the devastating cost of this problem and the reality that the government is not going to be able to do anything under proposed health care reform, we need to review your situation and the options available to protect yourself and your family.