Are you transitioning from child care to parent care i.e. the responsibility of caring for your parents?
We have outlined some information you should know and be aware of:
Do they have a Financial Power of Attorney, Medical Power of Attorney, Wills, Trusts?
What real estate do they have? How is it titled?
What accounts do they have savings accounts, IRAs, stocks and bonds, CDs, annuities, and investments.
What is their income, social security, government income, pension?
Are they veterans, service connected and non service connected pensions may be available?
Have they any whole life or term insurance, long term care insurance plans?
When was their finances last reviewed, are their investments/assets structured properly for their age? Do they have a financial Advisor?
Have they done any asset protection planning?
Be Proactive about planning for long-term care.
Review assisted living and nursing home facilities – costs and living conditions.
Have they planned for their care at home or at a facility; home care agencies or Medicaid?
Plan for their death – prepaid funeral, wills, trusts, avoid probate, CD’s etc. do they have the appropriate named beneficiaries?
What health insurance plan do they have? What is covered? Medigap coverage?
Are they eligible for Medicare benefits? Have they signed up?
Have they signed up for Medicare Part D – prescription drug coverage; have they renewed it; are they in the best plan for their medication needs?
Do they have any coverage through a private pension or retirement plan?
What community resources are available, Department of Aging, Commission of Aging, Senior Daycare, Alzheimer’s Association, Parkinson, American Red Cross, Cancer Society etc?
What senior classes are available for the senior, and the caregiver?
What agency help is available, Meals on Wheels, grocery delivery, transportation, health?
Consider Senior Life Care Planning. Our care coordinators are professionals trained to assist in the care planning and advocacy of your loved ones. We asses the condition of your loved one, make care recommendations, and share invaluable guidance on how you can better care for your loved one to ensure their quality of life, and give you peace of mind.
To increase your monthly income, please contact us about a FREE HANDBOOK about VA Benefits, written by David Wingate, an accredited VA Attorney, of Senior Life Care Planning, LLC, go to firstname.lastname@example.org or if you require additional information about VA Benefits, visit our Senior LCP's Website.
We also have a Blog on Elder Issues and Veteran's Benefits.
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