As baby boomers age and average life expectancies climb, many financial advisers are finding they need to address elder care in their client conversations. One of the most important adviser-client discussions should be about how possible long-term care expenses will be covered. Bernard Krooks, founding partner of the law firm Littman Krooks LLP and chair of its Elder Law and Special Needs Department, explains what long-term care is, how it can be covered, and why it’s important for clients to have an advance directive.

The Take 15 Series is a series of short interviews with leading practitioners on timely topics focused on the investment profession.