Elder Maze Solutions

As our senior loved ones age, we may start seeing physical and mental signs of decline. While some signs are not worrisome, others may be more concerning: anxiety, depression, forgetfulness, and mishandling money. These could indicate more serious issues and are risky behaviors. So here are four things you can do to help your aging loved one manage their finances. Four Ways to Help Your Aging Loved One Manage Finances:1. Stepping Up to Help With Daily TasksAs they age, your loved one may start having difficulty remembering important things such as taking their medications and getting refills on time. If you notice your loved one is no longer able to keep track of due dates for their bills or forgets to pick up their mail and leaves letters unopened, it is time for a conversation. Ask them if you can take charge of their finances in order to avoid overdraft fees, missed due dates, and other potential problems.If you live far away or if you cannot visit regularly, consider hiring an Aging Life Care Manager to check on your loved one, assess their needs, and recommend on-going services. Share a calendar with their care team to let them know about appointments, and make a readily-accessible list of phone numbers that include doctors, pharmacies, banking institutions, and emergency numbers. 2. Finding a Suitable RentalAnother consideration is your loved ones living arrangement. A popular option is finding a new, accessible, rental home or apartment, which means less maintenance than owning a home. When scouting rentals, look in neighborhoods with the amenities they need. View online listings to find properties in their price range to locate the perfect place. 3. Getting Power of AttorneyAsk your senior loved one if theyre willing to grant you power of attorney, which will allow you to make medical and/or financial decisions for them when theyre no longer able to do so. A power of attorney is a flexible document that lets your loved one (the principal) specify what decisions can be made on their behalf by another person (the agent). The principal can amend or make changes to that document at any time, provided they are of sound mind.Once you fill out the required forms and have them notarized, print extra copies for your records and put them in a safe place. Being legally prepared before your loved one becomes ill or incapacitated will give both of you peace of mind taking the guesswork out of what should happen and knowing that your loved ones wishes will be respected in the event theyre no longer able to clearly communicate. 4. Closing or Selling Your Loved Ones BusinessWhen your loved one owns a business but can no longer manage it, it is time to close or sell it. There are many steps involved in dissolving an LLC or corporation, so consult with an accountant or attorney in order to avoid penalties. You will have to gather all documents pertaining to the company such as articles of incorporation and operating agreement and be able to provide a potential buyer with several years of tax returns, profit and loss statements, and client/vendor contracts, etc.Get a professional business valuation in order to properly and objectively determine its value. A good business broker will help you come up with a number by analyzing the companys management, capital structure, future earnings, and market value of its assets, and will facilitate and streamline the selling process.It can be a difficult conversation, but it is important. Take time to discuss your loved ones financial situation. Together, come up with a plan that will keep them financially secure. Youll have greater peace of mind knowing that everything is in order.5. EfficiencyAging Life Care Managers streamline care processes, reducing redundancies and ensuring efficient use of resources. They help avoid unnecessary hospitalizations and inappropriate placements, which can save significant costs. For example, an Aging Life Care Manager might identify that a clients frequent hospital visits are due to medication mismanagement and work to set up a system where medications are properly administered at home, thus reducing the need for hospital care (Yang). What Distinguishes an Aging Life Care Manager from Other Geriatric Care Managers?Aging Life Care Professionals are distinguished by their membership in ALCA, which sets them apart through rigorous education, experience, and certification standards. Aging Life Care Professionals must meet stringent education and certification requirements, which include formal higher education in related fields such as gerontology, nursing, or social work, and professional certifications like Care Manager Certified (CMC), Certified Case Manager (CCM) . Additionally, they adhere to a strict Code of Ethics and Standards of Practice, ensuring a high level of professionalism and quality care.When to Engage the Services of an Aging Life Care Professional for Yourself or Your Loved OneKnowing when to engage the services of an Aging Life Care Professional can be challenging. Here are some indicators that it might be time to seek help: The person you are caring for has multiple medical or psychological issues. They are unable to live safely in their current environment. They are not pleased with current care providers and require advocacy. They are confused about their own financial and/or legal situation. They have limited or no family support. Your family is burned out or confused about care solutions. You have limited time and/or expertise in dealing with the individuals chronic care needs and/or do not live close by. Your family is at odds regarding care decisions. You need education and/or direction in dealing with behaviors associated with dementia.  Evaluating Aging Life Care Professionals for Yourself or Your Loved OneWhen evaluating Aging Life Care Professionals, consider the following: Credentials and Certification: Ensure the Aging Life Care Professional is certified and a member of ALCA. Experience: Look for professionals with substantial experience in geriatric care management. References and Reviews: Seek references from previous clients and read reviews to gauge their reputation and effectiveness. Compatibility: Choose someone who is compatible with your family and understands your specific needs and preferences. Communication Skills: Effective communication is crucial; the Aging Life Care Professional should be able to clearly explain care plans and updates.  Understanding Aging Life Care ManagementAging Life Care Management is not just about addressing immediate health concerns but also about providing a holistic and proactive approach to care. This includes planning for future needs, advocating for the client within the healthcare system, and supporting the family through emotional and logistical challenges.Its about enhancing the overall quality of life for both the older adult and their family.Advice for Planning for Healthy AgingPlanning for healthy aging involves being proactive about your health, finances, and lifestyle choices. Here are some key pieces of advice from ALCA: Maintain a Healthy Lifestyle: Prioritize regular exercise, a balanced diet, and mental health to stay physically and mentally fit. Plan Financially: Save and invest wisely to ensure financial stability in your later years. Consider long-term care insurance and other financial products that can help cover future care needs. Stay Informed: Educate yourself about aging and the resources available to support you. Stay connected with community services and support networks. Be Proactive About Healthcare: Regular health check-ups and screenings can help detect and manage potential health issues early. Build a Support Network: Cultivate strong relationships with family, friends, and community members who can provide support as you age.   Aging Life Care Management is an invaluable resource for families navigating the complexities of elder care. These professionals play a pivotal role in ensuring that older adults receive comprehensive, compassionate care while supporting and relieving the burdens on their families. By understanding and utilizing the services provided by these professionals, families can enhance the quality of life for their loved ones and themselves. For more detailed information and resources, the Aging Life Care Association website is an excellent place to start.

What Distinguishes an Aging Life Care Manager from Other Geriatric Care Managers? What is Aging Life Care Management? Aging Life Care Management, also known as geriatric care management, focuses on improving the quality of life for older adults and their families through comprehensive planning and management of care needs. This involves addressing not only health concerns but also financial, legal, and social aspects to ensure the well-being of older adults. Aging Life Care Professionals or Aging Life Care Managers are members of the Aging Life Care Association (ALCA) and differ from Patient Advocates, Senior Advisors, Senior Navigators, and Elder Advocates. ALCA members must meet stringent education, experience, and certification requirements of the organization, and all members are required to adhere to a strict Code of Ethics and Standards of Practice. Benefits of Aging Life Care Management Engaging an Aging Life Care Manager can offer numerous benefits: 1. Expertise and Knowledge Aging Life Care Managers bring specialized knowledge and experience in elder care, ensuring that the client receives the best possible care. They are well-versed in managing conditions such as dementia, Alzheimers, Parkinsons, and other chronic illnesses. For example, they can recognize early signs of cognitive decline and coordinate with healthcare providers to manage it effectively. If a family is struggling to manage the needs of a beloved relative with Alzheimers? An Aging Life Care Manager can provide a detailed care plan, recommend suitable memory care facilities, and ensure that the parent receives appropriate therapies to slow disease progression. 2. Stress Reduction By handling complex care tasks and providing emotional support, Aging Life Care Managers reduce the stress and burden on family caregivers. They can step in during emergencies, offering a 24/7 point of contact, which alleviates the constant worry families often experience. Studies have shown that family caregivers often experience high levels of stress, with about 40-70% showing significant symptoms of depression (American Psychological Association). Having professional support can significantly reduce these mental health challenges. 3. Improved Outcomes An Aging Life Care Managers comprehensive approach can lead to better health outcomes and enhanced quality of life for the older adult. Continuous monitoring and timely interventions can prevent hospital readmissions and manage chronic conditions effectively. Research indicates that coordinated care management can reduce hospital readmission rates by up to 20%, highlighting the effectiveness of proactive care management (Finlayson et al.). 4. Efficiency Aging Life Care Managers streamline care processes, reducing redundancies and ensuring efficient use of resources. They help avoid unnecessary hospitalizations and inappropriate placements, which can save significant costs. For example, an Aging Life Care Manager might identify that a clients frequent hospital visits are due to medication mismanagement and work to set up a system where medications are properly administered at home, thus reducing the need for hospital care (Yang). What Distinguishes an Aging Life Care Manager from Other Geriatric Care Managers? Aging Life Care Professionals are distinguished by their membership in ALCA, which sets them apart through rigorous education, experience, and certification standards. Aging Life Care Professionals must meet stringent education and certification requirements, which include formal higher education in related fields such as gerontology, nursing, or social work, and professional certifications like Care Manager Certified (CMC), Certified Case Manager (CCM) . Additionally, they adhere to a strict Code of Ethics and Standards of Practice, ensuring a high level of professionalism and quality care.   When to Engage the Services of an Aging Life Care Professional for Yourself or Your Loved One Knowing when to engage the services of an Aging Life Care Professional can be challenging. Here are some indicators that it might be time to seek help: The person you are caring for has multiple medical or psychological issues. They are unable to live safely in their current environment. They are not pleased with current care providers and require advocacy. They are confused about their own financial and/or legal situation. They have limited or no family support. Your family is burned out or confused about care solutions. You have limited time and/or expertise in dealing with the individuals chronic care needs and/or do not live close by. Your family is at odds regarding care decisions. You need education and/or direction in dealing with behaviors associated with dementia.   Evaluating Aging Life Care Professionals for Yourself or Your Loved One When evaluating Aging Life Care Professionals, consider the following: Credentials and Certification: Ensure the Aging Life Care Professional is certified and a member of ALCA. Experience: Look for professionals with substantial experience in geriatric care management. References and Reviews: Seek references from previous clients and read reviews to gauge their reputation and effectiveness. Compatibility: Choose someone who is compatible with your family and understands your specific needs and preferences. Communication Skills: Effective communication is crucial; the Aging Life Care Professional should be able to clearly explain care plans and updates.   Understanding Aging Life Care Management Aging Life Care Management is not just about addressing immediate health concerns but also about providing a holistic and proactive approach to care. This includes planning for future needs, advocating for the client within the healthcare system, and supporting the family through emotional and logistical challenges. Its about enhancing the overall quality of life for both the older adult and their family. Advice for Planning for Healthy Aging Planning for healthy aging involves being proactive about your health, finances, and lifestyle choices. Here are some key pieces of advice from ALCA: Maintain a Healthy Lifestyle: Prioritize regular exercise, a balanced diet, and mental health to stay physically and mentally fit. Plan Financially: Save and invest wisely to ensure financial stability in your later years. Consider long-term care insurance and other financial products that can help cover future care needs. Stay Informed: Educate yourself about aging and the resources available to support you. Stay connected with community services and support networks. Be Proactive About Healthcare: Regular health check-ups and screenings can help detect and manage potential health issues early. Build a Support Network: Cultivate strong relationships with family, friends, and community members who can provide support as you age. Aging Life Care Management is an invaluable resource for families navigating the complexities of elder care. These professionals play a pivotal role in ensuring that older adults receive comprehensive, compassionate care while supporting and relieving the burdens on their families. By understanding and utilizing the services provided by these professionals, families can enhance the quality of life for their loved ones and themselves. For more detailed information and resources, the Aging Life Care Association website is an excellent place to start.