“I Can’t Get Clients to Plan Early”October 26, 2009 1:25 pm Practice Building Ideas
Getting clients to plan early can often be a daunting task. But maybe our message isn’t resonating with them because we aren’t anchoring it to facts to which potential clients and their family members can relate. A recent study conducted by MetLife called the “MetLife Long-Term Care IQ Study” (found at http://www.metlife.com/about/press-room/index.html?compID=16029) was a real eye-opener about what people of all ages know, or more importantly, don’t know, about the need for long term care. For example, only 36% of the people surveyed knew that 70% of all persons age 65 and over will require long term care. 66% did not know which programs or policies pay for long-term care. And 36% thought that you could transfer assets and qualify for Medicaid immediately.
Elder law attorneys have the ability to make a profound impact on the lives of clients and family members. But to do so, we must be able to effectively convey why planning ahead is so important. An important first step is understanding what potential clients may or may not know when they walk through the door. Only then can we be successful in educating clients about the need to plan early for the rising costs of long term care.