eldercare

Eldercare

Eldercare is a journey. The first step is gathering information.

Care giving for an aging parent, spouse, domestic partner or close friend presents tough challenges...especially when a crisis hits and responsibility descends upon you suddenly.

Maybe your mother has fallen...perhaps due to instability caused by prescription drug side effects...and is hospitalized with a broken hip. Or your spouse has wandered off and become lost several times. Or a long-time friend and mentor has lost a lot of weight and rarely seems to leave home.

How to Tell When a Senior Needs Help With Finances

As we age, it becomes more likely that we may lose track of our finances. It could be because of physical reasons (failing eyesight, shaky hands, etc.), mental reasons (memory loss, cognitive impairment, etc.), or a little of both. It is common for someone not to seek help because of pride or fear of losing their independence and family members (the most common support system) are sometimes reluctant to step in to help. As a result, the following scenarios often occur:

What if I Can't Look After My Affairs?

Clarke owned a small business that employed three other people besides him. He had sole signing authority on his business bank account, and personally had a joint mortgage on his home with his wife, Lois. His car was registered in his name only. Clarke was generous with gifts on special occasions and holidays for his children and his wife, and supported several charities on a regular basis.

The Financial & Emotional Ravage of Alzheimer's

The Baby Boomers have become known as the sandwich? generation as they are wedged between the dependency needs of aging parents and the needs of their children. Those hit the hardest have been the families ravaged by the onset of dementia or Alzheimer's disease. Baby Boomers now find themselves reaching the age when the disease is more likely to strike. Very few are prepared for the emotional and financial toll this degenerative disease can take.

Maintaining Independence

Over the next 10 years, as Babyboomers begin retiring the majority of these retirees will face financial challenges related to caring for aging parents.

The family home is often strongly connected to many wonderful life memories, therefore most seniors prefer to live independently in their own homes for as long as possible.

How To Care

Our parents raised us; we moved out, had children of our own and raised them. Then our children moved out and had children of their own to raise. It was supposed to stop there for us, but then one day we had to look after one or both of our parents.

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