As women, we are often expected to fill multiple roles: that of a loving mother, career woman, supportive wife or partner, volunteer in the community and, at some point for many, a new role—that of caregiver to our parents or loved ones. For the last 20 years, I have helped clients plan for their “golden years”, including how they will address the issues of aging and remaining independent. And now I am personally experiencing it myself—I am the Designated Daughter with my own parents. Because my parents and I had “the conversation” and did the proper planning—I was prepared when I received That Call in the Night. Part of creating the life of your dreams is making sure you address all the “what ifs” in your life. Skipping this step could create unpleasant complications that might be avoided. Our parents and loved ones are living longer and we need to know how this may affect our lives and be prepared with a plan.

Take a look at these statistics:

- When Social Security, Medicare and Medicaid were designed, life expectancy was 63.
- Our fastest growing population is age 85 plus and 50% may have some form of Alzheimers.
- By 2030, 70 million people in the US, or 1-in-5 people, will be age 65.
- Another 1 million people will be 100 years old.
- The need for healthcare and related services is exploding!
(Source: Working with Seniors Health, Financial and Social Issues, 2003)

According to USA Today:
- 60% of US caregivers are female
- 66% are married or living with a partner
- 45 is the average age of US caregivers
- 77 is the average age of the care recipient
- 41% of caregivers have children under the age of 18 at home
- 52% of caregivers are employed full time

Learn how to be prepared, how to talk to your parents or loved ones, what you and they should do to make sure your lives continue to run smoothly and how to avoid costly mistakes.

Step One ~ Get Organized!

You’ll need to gather together the following: One filing cabinet, complete with hanging file and manila folders; a copy of all important documents; a large three-ring binder with big tab dividers; and a colored marker.Use the binder to store copies of important documents. Label the document title on the tab divider. This will come in handy should you need to transport documents. Using your marker, write on the back of each document where the original is stored (i.e. Will stored in safe deposit box and son John has the key.) Have a section on beneficiaries that lists all documents with appointed beneficiaries. Always keep this section current.Next, organize your file cabinet. If you don’t want to store original documents in your file cabinet, note the original’s location in the appropriate file. Create the following titles for your hanging files and store items under each category in labeled manila folders.

A. Important Information

1. Location of safe deposit box and key
2. Passwords for debit card, online accounts, computer, and voicemail
3. Armed forces documents
4. Birth and marriage certificates
5. Names and phone numbers of your attorney, CPA, financial planner, broker, and insurance agents
6. Copy of tax returns and winter/summer tax assessments
7. Copy of Social Security Estimate Statement

Page 1 of 3 :: First | Last :: Prev | 1 2 3 | Next