Who Takes Care of You When You Can't? Long-Term Care Planning with Scott Barnes, CFP®, CLTC®, Ep. 147

Jul 16, 2025

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Long-term care is one of the most complicated and overlooked parts of financial planning, especially when you're Childfree. Without kids to step in, who actually takes care of you when you can’t? In this episode, Dr. Jay sits down with Scott Barnes, CFP® and CLTC®, to explore what care really costs, what insurance does (and doesn’t) cover, and how to start building a plan you can trust.

We'll cover:

[1:21] Talking to your partner or planner about future care

[2:41] Why Medicare won’t help and Medicaid only steps in once you’re broke

[5:07] How much to set aside if you plan to self-fund

[6:28] When it makes sense to consider long-term care insurance

[12:08] Who qualifies for coverage and when to apply

[14:47] What insurers look for and how to avoid being denied

[17:59] Why Medicaid beds are hard to find in nicer facilities

[20:14] What to consider if you never end up using your coverage

[22:34] The consequences of waiting too long to plan

[25:05] What to do if you don’t qualify for insurance

[26:48] The difference between standalone and combo long-term care products

[27:38] What to watch out for when speaking to insurance brokers

This episode also includes a sneak peek at Childfree Trust®, a new service launching soon to serve as your power of attorney, executor, or trustee if you don’t have anyone to fill those roles. If you’ve ever wondered how to make long-term care decisions when you're solo, this one’s for you.

Mentioned in this Episode:

* Childfree Trust waitlist: https://childfreetrust.com/

* Schedule your Childfree Wealth® Checkup: https://Childfreewealth.com/schedule-a-checkup/

* Read more about long-term care: https://childfreewealth.com/resources/long-term-care-childfree/

* Get a quote for long-term care insurance through LLiS: https://allis.llis.com/quoterequest

* Dr. Jay’s Book "Portraits of Childfree Wealth": https://a.co/d/e4vLB2v

The Childfree Wealth Podcast, hosted by Bri Conn, CFP®, and Dr. Jay Zigmont, CFP®, is a financial and lifestyle podcast that explores the unique perspectives and concerns of Childfree individuals and couples.

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Disclaimer: This podcast is for educational & entertainment purposes. Please consult your advisor before implementing any ideas heard on this podcast.