17 May The Benefits of Having an Elderly Care Plan
The benefits of having an Elderly Care Plan is more important than ever before. With current and future advancements, combining medicine and technology, people are living longer. In fact, founders from noted
global technology companies like Google, PayPal, and Oracle are infusing hundreds of millions of dollars into cures for diseases that are common in the elderly. Oracle co-founder, Larry Ellison, started the Ellison Medical Foundation which supports biomedical research on age-related diseases and disabilities. In 2016 he donated $200 million to support cancer research at the University of Southern California.
Consequently, it is vital for our aging loved ones to take a proactive approach and have a clear and effective Elderly Care Plan in place. This process will help them to avoid unnecessary stress and financial worries down the road.
How to Develop an Elderly Care Plan
Start the discussion. Begin by asking parents if they think about where they will live as they age. This may include some uncomfortable questions such as, “Mom, I know you love your home, but will you be able to stay here if something happens to dad?” Most people want to age in place, however, this may not be an option. It is always better for an older adult to move before a crisis (fall, accident, or illness) occurs. Moving is overwhelming for most people and especially for seniors. Offer to help by sorting through your parent’s house and donating books, clothes, and other possessions. Shred unnecessary files and documents. If you don’t live nearby, fly to see parents on a regular basis to help with these tasks.
Legal documents. Before an elderly parent has an illness or accident certain legal documents should be in place. These documents include: Last Will, Living Trust (depending on circumstances) Durable Power of Attorney, and Advanced Health Care Directive. If already complete, make sure you know where these documents are located. Have the contact information for your parent’s attorney and financial advisor readily available. If these documents are not complete, help your parent’s find an attorney. Ask a friend for a referral or assist mom and dad with one of the many online legal services companies such as In Trust Legal, We Help You Legal, Legal Zoom, Rocket Lawyer, or Law Depot. These companies are often more affordable than a private attorney.
Know important information. Know the location of your parent’s driver’s licenses, Medicare cards, supplemental insurance information, and Social Security numbers. Online passwords should be typed out and a copy kept with a trusted family member. Make copies of all of your parent’s medications and post one on their refrigerator in case of an emergency.
Obtain an Assessment
As parents begins to show cognitive and physical decline, it may be time to obtain a comprehensive geriatric assessment of their medical and mental status as well as their abilities to care for themselves on a daily basis. This can be done by a parent’s personal physician or a certified senior advisor. Begin to research senior community resource programs, senior day care programs, and the cost of hiring an in-home caregiver.
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