Why You Need to Plan for Long-Term Care Before the Crisis Hits (Ep. 368)

The biggest threat to your farm's legacy isn't the bank — it's an unplanned long-term care event. In this episode, Mary Jo Irmen sits down with long-term care expert Michelle Prather, author of Who's Wiping Your Assets?, to unpack why modern long-term care insurance is nothing like the outdated "flip phone" policies you may be picturing.

Michelle breaks down the reality most families ignore until it's too late: there's a 91% chance you or your spouse will need care — and care today can run $8,000 to $15,000 a month, fast liquidating the very assets you spent a lifetime building. For the agriculture community — often "land rich, cash poor" and laser-focused on legacy — the stakes are even higher.

You'll learn:

- Why long-term care isn't just for the elderly — cancer, strokes, and farm accidents don't check your age first

- The difference between old rigid policies and new flexible ones (including home care and caregiver respite)

- How to fund coverage tax-efficiently using IRA distributions or cash-value life insurance — sometimes saving six figures versus paying premiums traditionally

- Why lifetime coverage matters, especially for couples and women

- The critical reason you must plan before a crisis — as Michelle puts it, "my house is already on fire" is no time to shop for coverage

Long-term care isn't about nursing homes. It's about protecting your assets, your family, and your dignity — so the next generation inherits the farm, not the bills.

Get the book: https://FarmingWithoutTheBank.com

Email: MaryJo@WithoutTheBank.com

Schedule an appointment with Michelle: