B&P Financial Services

Morristown, NJ 07960

163 Madison Ave., 2nd Floor

Mon - Fri: 12:00PM to 9:00PM

Excluding Weekends

Long Term Life Planning


Independent Living


Assisted Living

Long term life planning is an underappreciated service that helps people live their lives with dignity. From those who cannot leave their homes to those who need assistance with daily activities, such as cooking and bathing, homecare can make all the difference. Homecare workers are a key part of this equation. These workers help people with disabilities and the elderly to live independently without being a burden to their families. But this doesn’t come without a cost which can ultimately be extremely expensive. The goal of planning for your long-term care needs is to make sure that you are comfortable with your living situation and that your needs are taken care of.

It is important for not only yourself but for your family as well that you have an extensive long-term care plan in place. The cost of long-term care will only increase as time goes on so it is best that you plan ahead and get your financial affairs in order. Knowing how you wish to be taken care of, how you intend to pay for the care, and what your ultimate wishes are is extremely important. We want to help make sure that you are prepared for the future in every aspect of your life.

Take the time to sit down with your family and your financial advisor to make your plan today. Think about how you would like to be taken care of, do you want to stay in your home, do you want to move to assisted living, will one of your family members move in with you? These are all questions that need to be asked during this time. Call me today to schedule an appointment where we can discuss what your ultimate long-term care needs are and create a plan on how you are going to cover the costs.

long term life planning
lady planning for long term

Our Promise

Providing Financial Services

To All Individuals

Assisted Living

Assisted living is a type of housing designed for people who need various levels of medical and personal care. Living spaces can be individual rooms, apartments, or shared quarters.  Assisted living is ideal for those that need minor assistance. 

Nursing Home

A nursing home is a place for people who don’t need to be in a hospital but can’t be cared for at home.  Many individuals see a nursing home as a bad thing. But in fact, a nursing home can help with maintaining your loved one’s memory.

In Home Care

Homecare is health care or supportive care provided by a professional caregiver in the home where the patient or client is living.  Ideal for a patient after having surgery that requires additional rehabilitation assistance on a part-time basis. 

Independent Living

Independent living means the ability to examine alternatives and make informed decisions and direct one’s own life. This ability requires the availability of information and financial resources.  This is perfect for an individual that can still take care of themselves. 

Plan for the worst, hope for the best

How to plan for the future

Buy a Long-Term Care Insurance Policy
Long-term care insurance is designed to cover long-term services and supports that are not covered by traditional health insurance. Buying a long-term care insurance policy is one way to plan for the costs of care down the road.
A Deferred Lifetime Annuity
At which point in life do you need long-term care?.  If you are sick, then the income can be used to cover your care costs.  If you are healthy, then it can serve as a bonus income to enhance your quality of life.
Medicare does not cover most long-term care costs and this can be very costly for the individual. For those who have hefty assets, the most common solution for funding long-term care is using up those resources and then being qualified for Medicaid.  This is not the best solution, but the quality of care afforded by Medicaid is likely to be less than you want.