May is considered Older Americans Month. To appreciate the older Americans in your life and keep them safe consider these two areas.
Their care and protection
If they are in a nursing home be sure to keep your eyes out for elder abuse. If they are living on their own talk to them about scams and protecting their identity and financial well-being. The most common scams are now over email and take advantage of vulnerable people in many ways. Remind loved ones not to provide financial or personal information to anyone with whom they are not familiar.
The second most common way elderly people are exploited is by people they know. Make sure that your vulnerable loved ones remember that nobody who visits or helps them should be doing so for money, and if they start asking, they should beware!
The best way to monitor problematic activity is to have an accountability system for your loved one’s finances. If they don’t have a durable power of attorney, they need one. If they have one, talk with them about how involved they would like that person to be.
Their plans for the future
It’s never too early to start discussing plans for the future which should include living arrangements, lifestyle, health care needs, and estate planning. Estate plans should be reviewed at least every 5-7 years as often more frequently as you age. If you haven’t had a family meeting don’t wait until it’s too late. We know these conversations can be uncomfortable and you might not know how to approach it so let us take that off your shoulders. We can run the family meeting ensuring everyone is on the same page and can support the life of your loved one in a loving way as they continue to age. Having these conversations now will prevent the stress and messes down the road as unforeseen circumstances arise.
To start this process, it is best to speak to a Wisconsin Estate Planning Attorney such as McLario Helm Bertling & Spiegel where you will be guided and they will partner with you on how to effectively carry out the process.