In my post from yesterday I spoke about the need to have a long term care plan and the value of having a long term care plan like a last will. Now, I didn't mean to say get one over the other, you need both for complete success.
In this post I would like to turn to those individuals that now have a long term care plan in place and what to do with it on a regular basis. First off, I would like to say with resounding joy, "Congratulations!". It's pleasing to this company to see folks with that vision. But, now that you have taken care of things for 2010 you will need regular check-ups to that plan just like any other long range plan, like your 401k, 529 or anything else. When you are undergoing the check-up over the next few years be sure to always check to see how the latest new strategies play a role into yours.
If you are due for a long term care planning check-up in the next year be sure to discuss the strategies of CLASS ACT. CLASS ACT is a federal government form of long term care that was part of the health care reform bill that passed congress earlier this year. Although CLASS ACT is not long term care insurance, the cost to sign-up for the benefits that will be offered down the road may be a nice addition to your long term care strategy.