In the next hour, 327 elderly people will be treated in an emergency room for a fall — that’s one fall every 11 seconds. Unfortunately, three of them will die from that fall.
These jolting statistics come from The National Counsel on Aging.
Many of us have dealt with elderly loved ones who have fallen. In fact, one in four elderly persons experience a fall each year.
Whenever any of these personal and health safety issues arise, inevitably they draw attention to a wide range of medical, legal and financial issues. For example, some key questions include:
- Are our loved one’s health a medical care really being monitored?
- Are we certain that they’ll have all the recommended legal safeguards in place for decisions about their care and estate matters?
- Do we know how our loved ones plan to pay for late in life care?
- Is there a plan in place that actually makes sense?
- Are the finances in place to pay for what’s needed?
- What happens when the elderly family member can no longer stay in their home?
We begin to notice here some of the issues and topics that come to light following the emergence of a caregiving challenge. The consequences of unplanned care giving for elderly family members can be devastating. Those consequences hit people on all levels: Personal, professional and emotional.
Sometimes families get torn apart when a caregiving challenge becomes a crisis. When there’s no planning and a crisis hits, it can have a big impact on people’s financial plan across multiple generations, Impacting grandchildren, adult children and of course our oldest loved ones.
On episode 46 of The Agent of Wealth Podcast Marc Bautis talks about the four keys to the challenges faced by a family caregiver. He covers:
- How smart planning can help ensure your loved one’s good with continued care.
- What a caregiving plan must address.
- How caregiving impacts the rest of the family.
- How a team approach can produce the best caregiving plan.
- And how to get started putting that caregiving plan together.
Listen to the full episode.
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