life care planning

What You Need to Know About Caregiving By 50, 60, 70

One of the best things about Edwards Group is the fact that so many of our clients become like family, so there is a lot of give and take. They learn things through our email newsletters, along with our extensive website and free workshops, but did you know that our clients are often teaching us things as well?

They send us articles and things they find helpful all the time… and we really appreciate it. A client found this link the other day and forwarded it on to firm founder, David Edwards. You can read the full article here, but we wanted to share some highlights.

What to Know About Caregiving By 50

Have the difficult conversation. How do your parents want to live as they age? (Read an article about “the conversation” with your parents, here.) A few key considerations are:

  1. What financial benefits do they have or qualify for? Do they qualify for VA benefits? Will they need the help of Medicaid to get the care they need later on?
  2. Make sure they have a living will in place and have expressed their wishes about end-of-life scenarios.
  3. Understand that Medicare does not often pay for long-term care, but that 70% of people who reach the age of 70 will need some sort of long-term care, so the issue of paying for long-term care can’t be ignored.
  4. Investigate long-term care insurance options.
  5. Identify community services that can help ease the aging process; identify possible housing alternatives.

What to Know About Caregiving By 60

Consider new ways of living. Plan ahead for how you want to live out life as you get older. Think about if you want to age in place or downsize.

What to Know About Caregiving By 70

Have another difficult conversation. This time with your own children.

  1. What would a “good” death look like for you?
  2. Where do you want to die?
  3. How do you feel about ventilators and feeding tubes?

Read more about starting the conversation in an article we wrote, here.

Again, if you’d like to read the whole article, What to Know About Caregiving by 50, 60, 70, just click here. If you’d like more information about the challenges of aging, the costs of aging and what can be done about it, check out the following blog posts:

Where Are You on the Planning Continuum?

The 5 Stages of Life Care Planning — Which Stage Are You or Your Loved One In?

Helping People Age Well: Elder Care Advisors

3 Ways to Pay for a Nursing Home