Many people who have an estate plan fail to properly address long-term care planning. By "long-term care," I mean care at a nursing home or similar facility. Such care is expensive, routinely costing over $100,000 per year. If you don't have long-term care insurance, you will either have to devote a substantial portion of your retirement funds to paying for the care, or you can properly allocate your assets so you qualify for Medicaid without having to be virtually broke.
Check out this article for more info:
http://insightlaw.net/bobbys-blog/proper-medicaid-planning-is-essential-for-long-term-care
