Family Trust
Terry,
Have you done an article about the pros & cons of setting up a Family Trust. We are concerned that if we happen to be unfortunate enough to get a major sickness or have to be put in a care givers home that we might end up losing all our savings and home. Would like to find a way to protect what we have for our children in the future. We are both 73 and in relatively good health today.
Thank you,
Terry Says
I’m not quite sure of your question.
You need an estate plan — a Revocable Living Trust. To understand that concept watch the video on the home page of my website.
But if you’re worried about spending all your money on “custodial care” then the answer is to purchase a combo policy of life/long term care insurance.
Read this: https://www.terrysavage.com/long-term-care-insurance-the-latest/
