Q: Do I really need to plan for long-term care? Won’t the government take care of me? – A.J., Apopka

A: To qualify for Medicaid in Florida, there are income and asset limits. Examples include employment wages, alimony payments, pension payments, Social Security and retirement account withdrawals. Assets include cash, investments, savings, and real estate in which one does not reside. All of these would need to be exhausted, which can leave your loved ones in trouble if you need care and they do not. Meet with a Certified Financial Planner to discuss the best options.  – Jessica Hall

Q: How much Umbrella Liability Insurance do I need?  Should I cover my home and what about my retirement account? – R.T., Apopka

A: Your retirement account and home are generally protected from creditors in Florida. Speak to your insurance agent and discuss the coverage you need and want. It is generally affordable. – Rhonda Shurtleff

Have a question? E-mail askanexpert@fpafla.com. Include your name (only your initials will be printed), hometown and phone. Questions are answered by Certified Financial Planners from the Financial Planning Association of Central Florida. Answers are for educational purposes only; you should also consult a financial professional. Questions and answers may be edited for space considerations.