The biggest concern appears to be a devastating illness, which would be the type of “catastrophic event” as mentioned above. Another survey of high-net-worth individuals (defined as those with at least $250,000 in household assets), conducted annually by Nationwide Financial, revealed that roughly 60% of those surveyed described themselves as “terrified” of how future health care costs could potentially impact their retirement plans.
Don’t be terrified. Speak with an estate planning attorney and get some peace of mind about the future.
For more information please visit my estate planning website.
