Do I need "LONG TERM CARE INSURANCE POLICY" where my husband and I have a 'REVOCABLE REAL ESTATE TRUST"??'
Answer
The two are different concepts and have very little to do with each other. Long term care insurance will pay money for your personal care if you are disabled. This could mean that you can continue to live in your home even if you are disabled. Long term care insurance may delay or prevent you from leaving your home and moving to a nursing home. A revocable real estate trust could have many purposes. I assume that you have created the trust to shelter your home from the high cost of medical care. If so, it focuses on the home alone. I think that most people should be concerned with quality of life and enjoyment of life as well as the monetary issues.
I suggest that you meet with a lawyer who can learn the specifics of your situation and give legal advise to you.
Answer
These two things are not related. A Revocable Trust deals with the transfer of assets upon death, a long term care insurance policy pays for Nursing Home Care, Assisted Living or in-home health care.
You should meet with your estate planning attorney or an elder care attorney for assistance.
Please feel free to contact me if you have more questions.
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