More Than Half of American Adults Don't Have a Will, Survey Shows

According to a survey, only 42 percent of U.S. adults currently have estate planning documents such as a will or living trust. Fewer have a plan for long-term care. All are essential to put in place before retirement.

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More Than Half of American Adults Don't Have a Will,  Survey Shows
4 Min Read February 7th, 2017 Updated:March 13th, 2022

According to a survey, only 42 percent of U.S. adults have estate planning documents such as a will or living trust. 

Yes, end-of-life is not a happy topic, but an advance plan is vital for you and your family. It would be best to think about the need for a POA – Power of Attorney for both health and property while you are of sound mind and body. 

Essential Things to Do Before Retirement

These are common sense things to do before you retire so you can enjoy the peace of mind of a successful retirement. A future successful retirement should also include a plan for the financial costs and burdens of aging.

Have you completed estate planning documents? It is essential to have a will and power of attorney in place. Read more by clicking here.  

We should plan for a successful future retirement before you actually retire. Too many people don't, resulting in chaos and crisis management. 

Reduce Stress and Burden on Those You Love

Death, whether expected or not, places stress on loved ones. Some of that stress is reduced when you have the proper paperwork in place. One area people ignore even more than death is long-term health care. The financial impact of long-term care is considerable, and the costs are increasing rapidly nationwide. However, long-term care is not just a financial problem. It is a family problem. The consequences are real as loved ones often become family caregivers. Being a caregiver is physically and emotionally demanding.

Whether you are paying for professional care from income and assets or adult children become caregivers - the consequences are real. Unless you own Long-Term Care Insurance, the responsibility falls on you and your family.

The responsibility of providing care or making decisions for care creates stress. There are physical, emotional, and even financial burdens that your children and their families will face when you need help and assistance due to health, an accident or injury, or just the impact of aging. 

Do you want to place your loved ones in that position?

Having wills, POAs, trusts, and a plan to address the impact of long-term health care are all key for your successful future retirement. 

LTC Insurance is Key Part of Retirement Plan

Affordable Long-Term Care Insurance will safeguard your retirement savings (401(k), IRA, 403(b)) from the high costs and burdens of long-term health care. 

When you own a policy, you own a solution. You will have your choice of quality care in the setting you desire, including in-home care. This takes the stress and burden of dependency off your family. You will be in control and maintain a greater level of independence, and your family will have the time to be family and not be burdened with being your future caregiver.

Hospice and End of Life Care

Long-Term Care Insurance will also provide benefits for hospice. More Americans require hospice care as end-of-life tends the drag on longer and longer.

You could wait but think of the peace of mind you will enjoy knowing you have solid plans in place so your family can be loving and supporting and not be forced to deal in crisis management.

Planning Early Gives You Choice and Control

Most people obtain coverage in their 50s, but some are doing it in their 40s. When you plan in your 40s and 50s, you have many available choices. The time to take action is now ... when you have a choice.

Start your research by finding the current and future costs of long-term care services where you live. The LTC NEWS Cost of Care Calculator is a great place to start. You can find the current and future cost of care where you live. You will also find any available tax incentives and partnership program plans available in your state. 

Use an LTC Insurance Specialist to Help Find the Right Plan

An experienced Long-Term Care Insurance specialist will review your specific information and help you find the appropriate coverage that fits your needs, concerns, and budget. Just click here to find your specialist. 

Long-Term Care Insurance is easy, affordable, and rate stable income and asset protection. Make sure your family has peace of mind as you get older when you retire. Take action now to safeguard your savings and reduce the tremendous stress and pressure otherwise placed on family members.


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About the Author

An LTC News author focusing on long-term care and aging.

LTC News Contributor James Kelly

James Kelly

Contributor since August 21st, 2017

Editor's Note

Being prepared for future declining health and aging is vital to your retirement planning. People need long-term health care due to illnesses, accidents, or the consequences of aging. The costs of long-term health care services are rising at an alarming rate due to increasing demand and high labor costs.

Part of the problem is health insurance and Medicare, including supplements, will not pay for most of these long-term care costs. While Medicaid will pay for long-term health care, you must have little or no income and assets to qualify for those benefits.

There are only a few solutions. You could depend on family caregivers (often a daughter or daughter-in-law), spend your income and savings on professional care, or add an affordable Long-Term Care Insurance policy to your retirement plan.

LTC Insurance gives you guaranteed tax-free benefits that give you access to your choice of quality care services, including in-home care. Plus, most policies include professional case management to help your family develop a plan of care and find quality care providers.

Long-term care costs are expensive, and family caregivers face physical and emotional burdens. LTC Insurance is an easy and affordable solution but don't delay since policies are medically underwritten. Most people obtain coverage in their 50s.

Planning Tools and Resources on LTC NEWS

You can find many tools and resources on LTC NEWS to assist you in your research for a planning solution or help your family find the appropriate care for a loved one at the time of crisis. 

To help you plan the costs and burdens of changing health and aging, LTC NEWS has put in place several resources, including:

Find all the resources on LTC NEWS - Resources for Long-Term Care Planning | LTC News.

Seek Professional Guidance

Insurance rates are regulated, so no insurance agent, agency, or financial advisor can give you special deals. However, insurance companies' premiums vary over 100% for the same coverage.

Experts suggest using a qualified Long-Term Care Insurance specialist to help you navigate the many options available to you and your family.

A specialist who works with the top companies can match your age, health, family history, and other factors and find you the best coverage at the best value. A specialist will save you money, and you will have peace of mind knowing they are making the appropriate recommendations - Work With a Specialist | LTC News.

Finding Quality Care for Mom or Dad

Start by reading our four guides -  

If they are lucky enough to own a Long-Term Care Insurance policy, be sure they use it. Sometimes families wait, thinking they can save the benefits for a rainy day. Waiting on using available Long-Term Care Insurance benefits is not a wise idea. 

Get Help in Filing a Long-Term Care Insurance Claim

Quality care obtained early will help provide a better quality of life and reduce the risk of a deep decline and facility care. If you need help in starting the process of a Long-Term Care Insurance claim, LTC NEWS can help.

LTC NEWS provides free assistance with no obligation to help you or a loved one complete the claims process with a Long-Term Care Insurance policy. We have teamed up with Amada Senior Care, who will do all the work, free with no obligation. 

You can also get support in finding quality caregivers and get recommendations for a proper care plan, whether a person has a policy or not. - Filing a Long-Term Care Insurance Claim | LTC News

Benefits of Reverse Mortgages 

Today's reverse mortgages for those aged 62 and older could be an ideal resource to fund a Long-Term Care Insurance policy OR even provide money to pay for care if you, or a loved one, already needs help and assistance.  

Some people have much of their savings invested in their homes. With today's reverse mortgages, you can find ways to fund care solutions, care itself, even help with cash flow during your retirement. 

Learn more by asking questions to an expert. LTC NEWS columnist and host of the TV Show "62 Who Knew" will answer your questions regarding caregiving, aging, health, retirement planning, long-term care, and reverse mortgages. 

- Just "Ask Mike." - Reverse Mortgages | LTC News.

Share Your Knowledge - Be A Guest Contributor for LTC NEWS 

LTC NEWS is open to contributors to share their stories with the world. 

You can write a story or ongoing column for LTC NEWS. You can write about many topics, including aging, caregiving, health, lifestyle, retirement planning, and long-term care, to name a few.

Be sure to write for our core target audience of adults aged 40 and older. Our audience is worldwide; however, our primary target is the United States, Canada, the United Kingdom, and other English-speaking nations. 

Improve your website or blog's SEO and gain exposure and traffic at the same time by being a contributor to LTC NEWS. 

You can even promote yourself, your business, and your website or blog. However, it must have editorial content exclusive to LTC NEWS and not just an advertisement. It can include links to other sites, and you can share the article link once published on your website or social media.

Email your story idea or article: - LTC News Contributors | LTC News

Your Marketing and Advertising Partner – LTC NEWS

Use LTC NEWS to drive traffic to your website and help you attract people interested in your products and services. Plus, you can improve your website's SEO so more consumers can find you when they search for your products and services.

There are various marketing options available with LTC NEWS. Traditional advertising, sponsored content articles, strategic alliances, and more are available. 

Learn more about how LTC NEWS can help you market your business, drive traffic, and improve SEO - Advertise With Us | LTC News.

Shared Links

LTC NEWS offers a 'helpful links' page so readers looking for additional information can find them easily. You can get a dofollow link to your website on LTC NEWS in exchange for a dofollow link on your site.

Let's work together and help consumers who search for us on the web - Site Request | LTC News.

You can also affordably purchase a dofollow link to your website or blog on LTC NEWS. Just contact the advertising department.

Sharing News with LTC NEWS 

Include LTC NEWS in your press release distribution. If your group, organization, business, political committee, etc., have news to share, send it to LTC NEWS. Email -  


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