Is Your Aging Well Team in Place?
Did you know that aging well is a team effort? As people grow older and start thinking about their lifestyle and potential care needs in their senior years, one of two things generally happens. Some people realize they need to make plans, and hire experts – financial, legal, and others – to help them prepare. Others are daunted by the challenge, and avoid making plans. Those who work with a team of experts generally are better prepared, especially for unforeseen circumstances.
Your team of experts can help you prepare for, and then advise you into and through, this life stage. Your team should include:
- An Aging Life Care™ Manager (a service we provide here at LifeCare Advocates)
- A financial planner or CPA (which you may already have)
- An attorney (preferably a specialist in elder law)
How your team will help you
This is where the “daunting” part comes in. What are your housing options for your later years? Will you be able to live in your own home, and will you need help in the home? Do you anticipate needing an assisted living environment? How will you pay for your residence? How much of your medical costs will your insurance, savings, or Medicare cover? What if insurance or Medicare rules change? What end-of-life wishes do you have, and do you have a will?
Instead of feeling overwhelmed, you can have a team answering your questions and helping you plan. Your experts in finance, elder law, and care management can also coordinate their work to ensure your plans and documents are up-to-date and complete. It’s important that your team collaborate and work well together, whether it’s via phone or email, or in person.
It’s really never too soon to think about the path you want to take and to decide what your goals will be. In fact, we work with younger adults whose parents had to make sense of everything on the fly during a crisis, inspiring the younger generation to learn more and plan for what may come.
If you already have a financial adviser or an attorney, start with that person. Ask them who else they recommend for your team.
If you haven’t worked with anyone yet, start with an Aging Life Care Manager. Care managers work with financial, legal, and other professionals whose expertise you may need. We have walked this journey with many clients, so we bring a perspective with tried and true information, referrals, and techniques. We learn each client’s unique needs and style – how they like to operate, their budget, etc. – and help choose the best team members possible.
Most important, care managers provide objective advice tailored to each client – they receive no referral fees from other professionals or organizations. Please get in touch to learn more about how we can help.