All New Hampshire adults, whether they read this column because they own New Hampshire businesses or for any other reason, should be aware of two critically important issues that accountants, estate planners and financial advisers often call the “sufficient-income” issue and the “nursing home” issue.

All New Hampshire adults need to be certain, to the extent possible, that now and in the future, they will have sufficient net income to enable them and their spouses and partners, if any, to have and to continue to have sufficient after-tax net income to ensure that they can live securely and reasonably comfortably as long as they are alive.

For most people, the sources of this net income consist principally of employee salaries and bonuses, income from LLC memberships or the holding of corporate shares in corporations in which they are at least part owners, investment income, 401(k)s or other federally tax-favored retirement plans, and, if they qualify, Social Security retirement or disability income.

If you are a New Hampshire adult and if you happen to be married or to have a partner, you need to know whether you and they will have sufficient net income while both of you are alive and when either of you dies.

In addition, you need to know whether, if, in your final years, either or both of you need full-time nursing home care, you can afford this care. If you are in a good nursing home, this care may cost you $14,000 a month. Under current rules, this amount will only be covered by Medicare for six months.

However, although we generally think of Medicaid income as income for low-income individuals, you may be able to qualify for Medicaid coverage of your nursing home care or that of your partner even if you have a good middle-class income or high income. However, you can do so only if you meet applicable Medicaid qualification rules. But these rules are numerous and complex, and at least one of them — the so-called “five-year look-back rule” — may be very difficult for you to meet.

I’m an LLC lawyer and a Corporate Transparency Act lawyer; I lack the expertise necessary to help you address the above issues. But many of the professionals mentioned above — accountants, estate planners and financial advisers — possess this expertise. Give them a call.