Everyone needs a power of attorney for assets and health. If you are disabled, your spouse or family may not be able to manage your assets without a court appointing a guardian. Having a power of attorney allows the person you designate to manage your financial affairs without the necessity of court involvement.
Long-term care insurance is essential for planning for disability. While it can be expensive, it is a way to pay for long term or nursing home care without impoverishing you and your spouse.
Insurance companies do not have to sell you long term care insurance and many insurance companies may decide that your risk factors are too great such as having diabetes or depression.
In addition to long term care or in lieu of long term care insurance there are a number of techniques that you can use to qualify for long-term care while leaving a legacy to your family. However, the longer you wait the harder it is to preserve your assets and to provide a legacy to your family.