The holidays including Thanksgiving and Christmas are times when the entire family gets together. It is often the situation where we realize someone is not doing so well on their own anymore.
Perhaps it is struggling to prepare all the food being a physical burden. Other times it might be forgetting to do something or doing it in a completely non-logical way. Physical abilities can decline as can cognitive abilities.
Such declines are not a normal part of aging but signs that something is wrong. Perhaps care is needed now that the deficit is recognized. Who will take charge, who will make decisions, is there a power of attorney for health care and for finances?
Sometimes sudden choices need to be made. Will government programs like Medicare or Medicaid help pay for care that might be needed? Will Grandma or Grandpa be eligible for them? What changes need to be made? Where can we find out what programs are available for this and what else can we do?
The local ADRC (Aging and Disability Resource Center) can be a good place to start, but there are many other strategies and help available that they are not even aware of.
Yes, you can protect some funds for family.
It is not necessary to spend every dollar of assets paying for care. There are also ways to make the available funds last much longer than simply writing checks until they are all gone. Perhaps this can leave some left over at the end.
For 24 years we have been helping families dealing with or planning to deal with the costs of long-term care. We know what you need to do BEFORE paying a caregiver so as not to become disqualified for Medicaid later. We know how to protect some assets for family. Come find out what you can do before all is spent down to the $2000 limit on assets (for a single person).
Give us a call Romeo Raabe at (920) 884-3030, there is no cost to meeting and learning.