Jill on Money with Jill Schlesinger Planning Around a Diagnosis
6 snips
Dec 3, 2025 Wes shares his pressing concerns about financially planning for his mother-in-law's Alzheimer's diagnosis. They delve into the costs of long-term care, timing for potential moves to assisted living, and navigating Medicaid options. Wes discusses family contributions to cover expenses while managing their household finances. Jill offers strategies for cash-flowing care without jeopardizing retirement savings and emphasizes the importance of finalizing estate documents and insurance. It’s a heartfelt and practical conversation about family and financial responsibilities.
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Track Three Months Before Changing Plans
- Do plan to cover most of your mother-in-law's care costs if her Social Security and sibling contributions fall short.
- Track expenses for 90 days after placement to see if you can cash-flow care before changing retirement contributions.
Check Medicaid Options Early
- Do explore Medicaid but expect tradeoffs in facility quality and options.
- Investigate local Medicaid-covered facilities early to weigh cost versus care quality.
Inheritance Paid Off Debts But Reduced Liquid Cash
- Wes described inheriting money that allowed them to pay off their mortgage and student loans.
- That inheritance also enabled extra saving but reduced accessible cash that might help now.