Taking Care of Elderly Parents
They helped you take your first steps. Showed you how to ride a bike. Taught you to drive, helped you pay for college. Your parents spent years looking after you. And the day may come when you have to return the favor. With the right plan in place, caring for your elderly parents can be a truly joyful experience for both you and them.
Planning is Paramount
The key to ensuring financial stability while caring for elderly parents is to have a plan in place now, before you actually need it. That way, when the time comes for you to start looking after your parents, you'll be ready.
We work diligently to assess your parent's needs, examine your financial picture and recommend a long-term plan to minimize the financial impact that elder care can so often bring. This plan may utilize a number of effective solutions. Both protection and investment solutions could be utilized to protect your balance sheet but still enable you to give your parents the care they expect and most importantly deserve.
Many solutions require coordinating multiple products and services to be optimal. Some possible solutions might include but are not limited to:
- Life, Disability and Long Term Care Insurances
- Annuity products with Long Term Care solutions built in
- Legal documents (Wills, Power of Attorney, Living Wills, Health Care Power of Attorneys, Trust)
- Tax harvesting, and laddering assets
- Getting other family members talking and on board early to help with caretaking possibilities
Call today for a complimentary assessment of what your options might be to get a plan started and in place now.