A 55 year old husband and wife who are successful owners of their family business.
They are concerned about outliving their assets and liquidating their estate for their extended care needs as they get older.
Efficiently design and implement a Long Term Care insurance plan to sufficiently protect the assets for the husband and wife based on their lifestyle and goals.
- Sufficient asset protection today ($490,000) and in future years (year 20 is $1,300,000).
- The ability to receive quality care at home whether part time or full time.
- The client has family overseas so it was important for them to be able to collect a benefit while receiving care without returning home to the United States.
- Since the premiums for the husband and wife were paid from the family business (a C Corporation) the premiums were 100% tax deductible without affecting the tax free benefits when they are received.