Much has been written regarding “getting your affairs in order.” Too often planning is geared towards incapacity; a will, power of attorney, and advanced directives are created. What is overlooked is the importance of planning for what happens in the years prior to incapacity. There is a stage between independence and incapacity that require careful planning. The interdependent stage of aging is when the person can manage their life but [...]
September can arrive with a force. Suddenly the kids’ school activities, coupled with work responsibilities, become overwhelming. Add caring for an aging parent to the list and the squeeze tightens! Enter the Sandwich Generation. Caring for aging parents demands attention, time, and resources. Combine this with a career and raising kids and you have the perfect storm. Why is our society so squeezed? The answers: Older Americans are in a [...]
Aging alone is challenging and scary! “Solo Elders” is the term used to describe older individuals who have no partner or children. This can also include seniors with children who are estranged. Often, estate planning and long- term care are the biggest issues they face. They do not know who to leave their estate to and they are concerned about who will care for them. In addition, they face fears of isolation and loneliness. [...]
Most of us don't wake up one morning and realize we can no longer care for ourselves. The process of aging involves multiple stages; some of us will experience all of these while others go through a few. Each stage is unique. Understanding these stages will help you prepare for them so, whether aging alone or with a partner, you will be ready for whatever lies ahead. The stages include [...]
Holidays are about families coming together in celebration. This time of year also offers an opportunity to hold a family meeting to address the needs of aging parents. Bringing the family support network together is a crucial step in planning for the aging process or addressing immediate concerns. Just as you dedicate time and energy to planning holiday gatherings, you can apply similar efforts for family meetings. Here are family [...]
So, you planned ahead. You purchased long term care insurance (LTCI). You paid the premiums religiously. You think that, when the time comes, you’ll just file a claim and receive a check. The process seems simple enough. Think again. Most LTCI policies require that the insured demonstrate either cognitive decline, as determined by the insurer, or show an inability to complete two activities of daily living (e.g., eating, dressing, personal [...]
It is inevitable that a transfer of decision making from parent to child will occur at some point in a parent’s life. So, what will this look like? It can be messy with hurt feelings, lost money, and inadequate care. Or, it can be wonderful with enriched relationships, gratitude, and peace of mind for all. The messy situations occur when people avoid the necessary conversations. This costly mistake has monetary [...]
Image a retirement that is all it’s hoped to be – fun trips, time with grandkids, long afternoons, gardening, and walks. Then it happens. A fall, an unexpected death, an illness, a slow but certain cognitive decline. The independence and freedom of a healthy retirement is gone. In the elder care world, we call this a “trigger event.” We have seen this happen over and over again. There is little [...]
As published by RTD. AARP states that 87% of adults over 65 want to stay in their current homes as they age. However, realistic planning and the necessary conversations surrounding these logistics are often neglected. Far too many consider this planning to be an end of life issue which is anxiety provoking. I encourage you to view aging in place planning as an opportunity. You are planning on how to [...]
As published by Independence Advisors, May 14, 2018. We have all heard the story about: The grandmother who fell victim to a financial scam The widow’s house that fell into disrepair The son who had to take Dad’s driver’s license away because he crashed the car These costly mistakes may have been avoided had the individuals relinquished responsibility for the tasks before they were no longer capable of managing them. [...]
