Family Care Givers, The Backbone of Long-term Care: Part 2

It is a myth that most of the elderly are cared for by nursing homes or health care institutions, In fact, 87% of those who need long term care receive that care from unpaid caregivers.  That being the case, what can you do to make caregiving easier down the road?

The key word is “plan.”

First, as noted in our previous post, you must determine where to start.  Next, learn about estate planning:

• Estate planning documents give the person you choose the power to appoint agents to make decisions when you cannot
• It can avoid guardianship
• It will help control what happens to your assets upon death
• It makes things easier for friends and family
• Even if you have documents, laws change and the documents should be reviewed to determine if any updates are needed; we typically recommend reviews at least every five (5) years

Family Care Givers, The Backbone of Long-term Care: Part 1

It is a myth that most of the elderly are cared for by nursing homes or health care institutions, In fact, 87% of those who need long term care receive that care from unpaid caregivers. That being the case, what can you do to make caregiving easier down the road?

The key word is “plan.”

First, determine where to start:

• Review bank and financial arrangements; Seek help from a financial advisor about how to maximize assets to pay for the care of a loved one
• Create a safe environment at home; safety checklists are available on www.aarp.com
• Look into benefits; i.e., social security, pension, disability and veterans
• Maintain medical records
• Consider care options available now and in the future, such as you home, someone else’s home, independent living retirement community, assisted living, nursing home, continuing care retirement community
• Determine how you will pay for the care
• Know that elder depression, although common, is not a part of growing old. Learn to recognize the signs of depression. Is the house dirty, where it once was clean? Are they neglecting chores that they once liked to do? Are they neglecting their own hygiene? Is the refrigerator and/or pantry stocked?
• Identify resources to help you (an elder law attorney can assist you with this)
• Decide on either estate planning or guardianship