Aug 01 2024 5 mins
Are you ready to take charge of the future? Whether supporting an older parent or planning your own aging, it's crucial to understand the intricacies of long-term care and be prepared for any unexpected twists and turns.
Lisa Mayfield, our principal and founder, was invited by Kristin McHugh, Lead Advisor with Brighton Jones, to a conversation about proactive planning for the essentials of eldercare.
We’ve created a series of eleven episodes, this being the first, from this informative conversation. The next 11 weeks will provide a comprehensive review of the steps, supports, and services everyone needs to prepare for their own aging, that of their partner or spouse, or planning for your parents or others you care about.
Will you need help? According to the U.S. Administration on Aging, recent research shows that “most Americans turning age 65 will need long-term care services at some point in their lives.”1
The first step is to kind of build a team of support around you. Pull in professionals who can help you anticipate, plan for, and navigate changes.
Engaging knowledgeable professionals who can offer guidance and expertise, including:
- An elder law or estate planning attorney ensures that key legal documents such as powers of attorney for finances and health care decisions and advanced directives are up to date. This gives others you trust, whom you’ve chosen, to legally to manage finances and medical decisions if you become incapacitated.
- A financial advisor analyzes assets, projects future costs, assesses insurance options such as long-term care policies, and develops a financial plan to fund anticipated care needs. Learn how to select the right financial advisor for your needs.
- An aging life care professional (aka geriatric care manager). We provide consultation and comprehensive, personally tailored plans addressing health changes, family dynamics, housing, hands-on assistance, and more. We also assist in implementation and ongoing care management. As Lisa shared, there are people like us all over the country. Aging Wisdom serves King and South Snohomish counties in Washington State. We are part of professional association – the Aging Life Care Association – and can help you find care management professionals.
Being proactive now leads to greater peace of mind and better outcomes. Preparation emerges as the key to embracing the evolving chapters of life while maintaining a sense of control and independence.
1. Who Needs Care? https://acl.gov/ltc/basic-needs/who-needs-care
Additional Resources:
- What is Long Term Care? (Aging Wisdom fact sheet)
- The Power of Planning: Taking Charge of Your Own Aging Journey (article written by Lisa Mayfield for 3rd Act magazine
- Plan Your Lifespan (a website that helps you plan for health events such as hospitalizations, falls, and memory loss that may happen a