Eldercare Planning

Eldercare planning can be depressing and overwhelming. No one wants to believe that they are getting older… most of us still feel 20 years old at heart. But, as much as you might want to avoid the subject, eldercare planning can make the difference between struggling and thriving through your elder years.

Below are some checklist items that can help you get started on your eldercare planning. To ensure legality and totality, it is recommended that you work with an attorney who specializes in eldercare planning; the following information will help to expedite those conversations.

Finances

  • Make a list of all of your accounts and they are held
  • Consolidate accounts where possible
  • Ensure that the proper names and permissions are on each account
  • Streamline bill paying by setting up automatic payments where possible, etc.
  • Obtain contact information for any financial advisers
  • Review your Social Security benefits
  • Update your beneficiary designations

Investments

What investments do you have?

  • CDs
  • IRAs
  • Stocks, bonds, mutual funds
  • Annuities
  • Real estate
  • Other

Where are these investments?
What are the amounts of each investment?
Where is the original documentation for all investments (you should bring this if at all possible)?

Eldercare Planning

Insurance Policies

Make a list of all insurance policies you have and locate copies of each

  • Life Insurance Policies
  • Health Insurance Policies
  • Long-term care policies
  • Other policies (life, health, long-term care, etc.)

Review your policies and consider setting up a long-term care insurance policy if necessary.
Review and update any auto, homeowners or umbrella liability policies.
Review and update health insurance coverage and Medicaid planning strategies.

Legal Documents

  • Do you have a will or estate plan?
  • Do you need to update your will or estate plan to reflect your current wishes regarding executors, beneficiaries, etc.?
  • Is there a durable and up-to-date power of attorney for finance in place?
  • Is there a durable and up-to-date medical power of attorney in plac