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The expression love knows no bounds fits perfectly for couples looking to tie the knot in their golden years. Compared to marrying young, as a senior, youre bound to have much more financial stability and a stronger understanding of who you are as a person. As a result, you can dedicate the majority of your time to living the best life with your significant other. For older couples on the cusp of marriage, this article will explore key considerations to be aware of before starting the next chapter of your life.This resource guide is just one example of the great content you can find on the Assured Senior Living website.Take a Call on FinancesThe big question to answer will be whether to combine your finances or not. Merging finances is not as simple as pooling money into the same savings accounts, youll need to take a call on:Managing day-to-day expenses such as home maintenance, groceries, utilities, etc.Whether to add your spouses name on assets such as a second home, investment property, 401(k) plan, and more.If either of you have debt, decide whether the individual will be solely responsible for repaying it or will it be repaid using pooled resources.Additionally, be open about your future investment plans, such as expanding your portfolio, buying property, etc., and ask your spouse to do the same. Make the necessary tweaks and create a new financial plan which serves as a pathway to reach goals as a couple. Given the complexity of this process, consider working with a financial professional who can help make a solid plan and educate you on how to manage money as a new couple.Review Medicaid BenefitsIf you or your spouse currently receive Medicaid, take into consideration how the marriage will impact the benefits you receive. As reported by Medicaid.gov, this is a public health program catered toward helping low-income individuals, but its eligibility is calculated based on total household income. Hence, if the annual income of your new household exceeds the maximum threshold, you may no longer be eligible for Medicaid.In this scenario, it is important to make a clear plan on how healthcare requirements will be managed in the future. The best options include:Applying for good health insurance, which can be taken separately or as a couple.Use your employer-provided health insurance to cover healthcare needs. As coverage varies among companies, its best to speak with the employer to understand the viability of this option.Create Future PlansWith a partner by your side, the future will look different than before. While you dont need to follow plans to the T, its good to create several mutually shared goals to work towards in the golden years of your life. These can include:Starting a Business: If the entrepreneurial spirit burns bright in both of you, starting a business can be a great option to consider. Given decades of work experience, both of you will bring unique skills and experience to the table that will help make the business successful. In addition to serving as the primary or secondary source of income, managing the business as a couple will result in you spending the majority of time with your better half each day.When it comes to promoting your business, the essentials will include designing a responsive website and leveraging social media advertising. There are various online tools through which you can create a Facebook ad in seconds. Buying a Home: While moving in with your partner is always an option, relocating is an exciting prospect to consider. This can involve moving to a state both of you always wanted to live in, or making the move away from the city to spend your retirement years in peace in the suburbs.The home buying process can be tedious, as it may involve selling your current home, applying for a mortgage, and much more. Hence, its best to start early and create provisions in your financial plan.Consider a Prenuptial AgreementWhile this may be an uncomfortable topic to bring up, discuss the need for a prenuptial agreement (prenup) with your partner. As reported by Nolo, a prenup is a legal document that includes details regarding the financial assets of each individual and conditions attached to them in the event of divorce or bereavement.Here are prominent reasons you can consider creating a prenup:Assets from Previous Marriages: Individuals with children from prior marriages can use prenups to clarify how assets will be distributed in the event of their passing. Without a prenup, property rights typically pass onto the significant other, which creates the possibility of a future legal dispute.Protection from Debts: Prenups can also be used to protect yourself from being held liable for the repayment of your partners debts. While you may be counting down the days to the wedding, before making it official, take the time to make a plan regarding the above-mentioned aspects to ensure you and your partner are secured for the foreseeable future.

Physicians, nurses, social workers and others who assist elderly patients daily are guided by the ethical principles of their professions. These codes of ethics share a similar purpose: to provide a set of values, principles and standards for decision-making and professional conduct.  A code of ethics holds medical professionals accountable for providing safe and compassionate care in the best interest of their patient or client. Occasionally, however, conditions such as dementia and other cognitive impairments can create conflicts for medical professionals as they attempt to make decisions in their patients best interests.While all slightly different, the codes of ethics for doctors, nurses, and social workers share many of the same principles. These include fairness and justice, beneficence (doing good), non-malfeasance (doing no harm), and preservation of the autonomy and self-determination of the patient or client.Those who care for patients with cognitive disorders can be challenged by seemingly conflicting ethical principles. For example, how do you preserve the autonomy and self-determination of a patient who has diminished decision-making ability or is unable to advocate for themselves?A physician or medical social worker, for example, might believe that a patient is receiving insufficient care from a family member. The logical decision might be to recommend that the patient move to an assisted living or memory care community. However, the professional may fear that a cognitively-impaired patient would reject the recommendation and fire their doctorleaving a vulnerable elder without a physician altogether.It can also be challenging to present complex medical options to patients who have impaired decision-making skills while still respecting their autonomy. Medical professionals should ensure patients have ample support from their partners, friends, or family members. When possible, patients should empower a trusted loved one at the time of diagnosis. This person should attend appointments and play an active role in the patients care by communicating issues and advocating for the patient when they can no longer advocate for themself.End-of-life issues can also present significant challenges for health care professionals that serve patients with dementia and similar cognitive or memory disorders.  What are the best practices when palliative care is advised, but families want to seek curative care?  What issues can occur when the patient does not have advance directives?To assist professionals in navigating these ethical situations, Oasis Senior Advisors is happy to announce that we are sponsoring a live interactive webinar for continuing education credits for Social Workers & Certified Case Managers through Jenerations Health Education.Stephanie Goldstein, LBSW, of Jenerations Health Education will present Ethically Handling End of Life Issues with Alzheimers Disease & Dementia on Thursday June 23, 2022, from 2pm-3:15pm EST/1pm-2:15pm CST.Oasis Senior Advisors sponsors live interactive webinars like these on a quarterly basis, and professionals are welcome to attend at no cost. We hope that youll be able to join us for this upcoming program on healthcare ethics. Seats are limited and advance registration is required at https://www.jenerationshealth.com/OSAJune.

If the high cost of long-term care was not an obstacle, how much care would you or your loved one need? Beneficent has been privileged to successfully assist more than 3000 families and individuals through asset preservation in the face of high long-term care costs for over 20 years. Our work is much more than just a business. It is an opportunity to practice our faith through compassionate service that sees every individual as one of infinite worth. Did you know that 70% of all of us who reach age 65 will need some level of Long-Term Care? Weve heard hundreds of stories all with the same concern how to get the best long-term care in place for themselves or loved ones. Children worry about their parents falling. Spouses are concerned about how they can continue to care for their partner who is rapidly mentally and physically declining. Adults want to know about a financial plan because the average cost for Long-term care is $8758 per month according to current Colorado state information. Families are stressed about losing everything in order to pay for long-term care. We have heard it all. No matter what your circumstance, 100% of our clients who are seniors and disabled adults have leveraged the programs to pay for the best care they need, not how much they can afford.  These programs cover assisted living, adult day care, home care, nursing homes, or senior living. As Certified Medicaid Planners, our clients benefit from step-by-step guidance which results in financial solutions to minimize spend down, preserve assets and limit out-of-pocket expenses. We give families peace of mind and predictability regarding the financial concerns surrounding long-term care expenses of their loved ones. Learn more and schedule an appointment here: Editors Note:  This article was written by Stacy Osborne, MBA CMP with Beneficent.  She can be reached by phone at 719-645-8350 or by email at info@doinggoodforothers.com. 

How emotions can complicate estate administrationby Vincent, Romeo & Rodriguez, LLC|May 10, 2021|Probate and Estate LitigationIt is impossible to take all emotions out of the process of settling a persons affairs after they pass away.However, people should know how their emotional responses can affect the process and its not always for the best.Emotions and decision makingAs one article from Psychology Today notes, a persons logical reasoning can suffer when emotions run high. They can make knee-jerk decisions that fail to consider long-term consequences and the extent to which their choices affect others.In the context of estate administration, it is certainly possible for emotions to motivate unwise or unproductive decisions. For instance:Grief and sadness can make it more likely for people to accept a less-than-fair resolutionAnger or resentment could lead a person to make decisions that punish others rather than benefit themselvesAnxiety can be debilitating during a stressful event, preventing a person from making timely, rational decisionsLoneliness can make it difficult for a person to reach out for helpWith this in mind, it can be best not to act rashly, whether you are the person administering an estate or a beneficiary affected by the administration process.Getting help with your decisions. Rather than taking on the entire burden of decision-making during a painful time, you can seek assistance from others.Consulting outside professionals like an attorney can guide your decisions by helping you understand legal ramifications and options. Financial and legal professionals can maintain objective perspectives and assist parties in making reasonable, logical choices. Further, parties might discuss their emotional responses with loved ones, counselors, therapists, religious or spiritual advisors. With this type of help, people can acknowledge and address their feelings, making it easier to balance logic with emotions. Again, it is impossible to remove all emotion from decision-making after a loved one passes away. But recognizing how emotions affect logic and knowing where to go for help can empower a person to make rational, sound decisions. Having said that, it remains critically important for adults to craft solid estate plans. These documents provide valuable guidance for those who must make decisions during a painful time.