specializing in

elder care financial planning


"Compassionate Guidance and Expertise"*

What is Elder Care Financial Planning?

Most financial planning is broadly oriented towards the accumulation, protection, and distribution of assets with an emphasis on retirement as the goal. 

Elder Care Financial Planning takes the recognized tenets of financial planning principles and applies them specifically to the matter of paying for long-term care and related financial issues.

The Board that governs Certified Financial Planners (the "CFP Board") defines the five steps of the planning process as follows:

  1. Gathering data and establishing goals.

  2. Analyzing and evaluating the current financial status.

  3. Developing recommendations and/or alternatives.

  4. Implementing the recommendations.

  5. Monitoring the recommendations.

Under Standards of Professional Conduct, the Board provides that the following basic subject matters typically be addressed in the planning process:

  1. Financial statement preparation and analysis (including cash flow, planning, and budgeting).

  2. Retirement planning and public benefits.

  3. Estate planning.

  4. Risk management and insurance.

  5. Income tax planning.

What this means is that during the planning process you can expect that your specific issues will be addressed including:

  1. What is the most appropriate venue for care?  Should we be looking at Adult Day Care, extended Home Care, Assisted Living Facilities, Adult Family Homes or is it time for a Nursing Home?  Is there a combination of solutions?  How much will all of this cost? What assistance is available to pay for it? (What is the plan, what is the goal?).

  2. What will our budget look like?  Will we have the funds to provide everything our loved one(s) will need?  How should money be positioned?  Will money run out?  When?  Then what? (Analyzing the current situation).

  3. What about other resources?  Are there other programs we should be looking at?  What about Medicare, Hospice, Medicaid and non-Medicaid related State programs or community-based free programs? (Developing recommendations/alternatives).

  4. How will Veteran benefits coordinate with other benefit programs? What is the difference between VHA and VBA programs and what is available from each? (Implementation).

  5. What happens when the person receiving benefits passes away (or the spouse predeceases)?  Can the State look to the estate for compensation?  Which assets can they seek, which can they not?  Is the home protected? (Monitoring recommendations).

With over 20 years experience assisting elders with long-term care issues, Mr. Robbins has an extensive network of professionals to assist you in every aspect of executing your family's Elder Care Financial Plan.

Mr. Robbins can complete, file, and monitor your loved one's application for Florida Medicaid benefits.  He is also serves as an Accredited VA Claims Agent.

Most importantly, however, you will have peace of mind knowing the most important questions have been addressed by a trusted advisor.

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*The information found on this website is gleaned from readily available public sources and is for educational purposes only.  It is NOT to be considered financial or legal advice.  Consult with an appropriate professional before making important financial or legal decisions.

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