Family health and the costs of long-term care and financial support for extended family have emerged as major concerns for high net worth investors and their families, with family health perceived as the biggest risk to family wealth, according to a new survey.
The survey, by U.S. Trust, polled 711 high net worth adults in the U.S. with more than $3 million in investable assets. It found that 47 percent of the respondents have created a financial plan to address long-term care needs that they and their spouse or partner might need, but only 18 percent have a financial plan that accounts for parents’ long-term care costs.
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