Personal Finance and Investing

Elder financial planning attorney. You need to work out projected income and assess the projected costs for Assisted living and for full on Nursing Care.

Most likely you will need to put all non retirement assets into a special trust. The problem with Long Term Care insurance is it only really covers if you are incapacitate not just infirm. The other issue is the whole juggle if one of a couple needs assistive living but not the other. Another issue is they usually only sell policies that will cover maybe 3 years total not lifetime. Be wary of what the sales people say, it isn't a simple claim to get paid out like for life insurance.

You should seek out CCRCs, continuing care retirement communities. And you really want a nonprofit one. Otherwise you could have to switch from Assistive living to a Nursing Home and could get separated from your spouse.