The Other Half of Every Estate Plan

• Are you at or approaching retirement age?
• Are you concerned that you may outlive your life’s savings?
• Are you facing challenges of caring for a frail loved one?
• Are you aware of what your best options for long term care and/or housing are?
• Do you have concerns about your support systems meeting all of your health and life needs?
• Are you concerned about losing control of your life’s destiny?

“Baby Boomers who have grown accustomed to middle to high income levels often have not thought about the costs associated with the care, lifestyle and housing options they will require during their retirement years.” (Pabian and Enners, 2011).  The current costs of medical care and housing are increasing at alarming rates, up to 15% per year while interest rates are decreasing. Such costs are not covered by medical insurance and Social Security. The majority of those approaching seniority desires to age in place, preferring to remain in their homes rather than transition to housing in the stigmatized institutional setting of a long term care facility and even the beautiful grandiosity of today’s assisted and supportive living surroundings. Parents do not want to be a “burden” to their children, grandchildren or neighbors. Our seniors want to leave behind a legacy inclusive of a financial portfolio to their loved ones including surviving spouses, children and significant others. The reality, however, is that many seniors do succumb to that which they least desire, largely due to lack of proactive and thorough planning. An unplanned journey is one fraught with unnecessary obstacles and hardships.

While it is critically important not to define aging as a catastrophic event, it is well known that the costs of care associated with aging can be astronomical and therefore, planning for an individual’s wealth AND health as one ages, demands a fluid, well defined road map.

In the elder care arena, this road map is a well designed Elder Life Care Plan. The Elder Life Care Plan will include all necessary legal, financial and investment documents as well as a comprehensive evaluation that integrates these components, additionally applying one’s wishes, goals, current and projected cost of care into a map for the journey of life.

Lifecare Innovations, working in harmony with seniors, their families, financial and legal advisers, has successfully laid out these finely tuned and sharply individualized Elder Life Care Plans that assist in:

• managing the expectations of an uncertain future;
• allowing one to live out life’s journey with dignity, maximizing well being, security and independence;
• assisting financial advisers in forecasting how best to invest and where to spend fixed and investment income;
• identifying appropriate health, safety and housing scenarios based on needs, preferences, and financial status;
• reasonably estimating the abilities and willingness of significant others, embracing one with Surround Care™ to manage any and all needs, proactively and seamlessly, reducing real and perceived “burden” on loved ones;
• ensuring a smooth, trauma-free transition into older adulthood.