The onset of progressive memory loss is one of the top concerns of Americans as they prepare for and enter retirement. Everyone knows it's important to think about end of life preparation, even though far fewer are prepared for memory related illness, even though it affected 5.7 million adults last year.
To get ahead of this life-changing situation, it's helpful to ask a few simple questions:
1. DO YOU HAVE A POWER OF ATTORNEY IN PLACE?
If someone becomes disabled, a Power of Attorney is a Powerful Instrument to make sure their intentions are carried out, and that necessary changes can be made.
Make sure there is a Power of Attorney in place both for healthcare as well as finances.
2. IS SOMEONE ELSE AWARE OF YOUR FINANCES?
All the savings in the world can't help you if they can't be found. Make sure someone else close to you understands your money and investments, and has the necessary approvals for banks and brokerages to help.
3. HAVE YOU SET UP YOUR INVESTMENT STRATEGIES TO PROTECT YOUR ASSETS?
Long Term Care Providers like Assisted Living Facilities are very expensive. With proper estate planning, it may be possible to minimize or avoid paying those large expenses yourself.
4. HAVE YOU CONSULTED WITH AN ESTATE PLANNER?
The Financial Landscape is complex, and even the most well-studied individual might be caught off-guard by new developments such as the the 2019 Pension Protection Act and the Cares Act. Consulting with a Financial Professional who specializes in the issues faced by seniors is an important way to make sure your future is still on track.
TureaudHF Services has cared for seniors and their families in all stages of retirement for many years, helping clients understand and refine their finances as well as prepare for the future.
Call 310-916-8450 for a free consultation.
