At Dennis Sullivan & Associates, we help people and their families protect their home and lifesavings from the increasing cost of nursing home and medical care, as well as savings on taxes and avoiding the time and cost of the probate process.
With people living longer, it is important to plan ahead for what can happen as you and your spouse age. That’s why we created the Unique Trust, Estate and Asset Protection review process to help people eliminate potential problems in their planning.
Planning for long term care is especially important as we all age. A 2011 world Alzheimer’s study showed that 50% of people over 80 will be diagnosed with a dementia during their lifetime, which is why we created an online Alzheimer’s Resouce Center to help people and their families deal with the devastating effects of long term illness.
On February 23rd we hosted a client workshop at the Wellesley College Club as part of our Lifetime Protection Program. This exclusive event featured several expert guest speakers on the topic: “Planning for and Managing Changes Along the Elder Care Journey”. Helpful information was provided for clients on how to stay in their homes safely, alternative living options available, how to evaluate those opportunities and how to pay for different care options.
In order to help people and their families deal with these changes we have developed a couple of unique processes. First, we created the 19 Point Trust, Estate, and Asset Protection Legal Guide designed to help people discover where problems may exist in their existing planning as well as the opportunities to improve their planning. A second unique processes for clients is the Lifetime Protection Program, which incorporates an ongoing review into a client’s planning to assist in dealing with changes in the law, finances, health, or family situation. These changes may require a client’s planning to be updated to accomplish their goals. Clients are also able to attend exclusive events like our recent event on planning and managing changes on the elder care journey.
We also discussed another important new resource, the Alzheimer’s Resource Kit available free online and sold nationally for $200. We are committed to helping families dealing with the challenge of Alzheimer’s through the many life changes on the Elder Care Journey. The way in which we help people along their journey is with a unique plan called a Life Care Plan. The Life Care Plan is a roadmap for total care; it includes the legal protection needed to safeguard assets, honor your loved one’s wishes and provide for family members and it describes how your loved one’s long-term care, financial, physical and psychological needs will be met.
The first guest presentation at the Wellesley College Club event was provided by Debbie Gitner and Linda Sullivan of Elder Care Resources, who spoke about the importance of having a professional that can provide a health care plan assessment, identify potential health risks and help develop the right solution for each individual situation. The professional “care coordinators” incorporate their services as an integral part of our Life Care Plan. Among other things, a care coordinator acts as a liaison for families, overseeing care and alerting families to potential problems, able to screen, arrange, and monitor in home help and other services and help families avoid nursing home costs by avoiding inappropriate placements. The second guest presentation was given by David Isaacson of First Financial Resources, who spoke about how to pay for long-term care and managing changes on the elder care journey. David focused on long-term care insurance and how it can help defray the cost of living longer by helping pay for in home care, assisted living, and a nursing home if need be. David helped those in attendance evaluate whether long term care insurance makes sense by walking people through the various options; whether they should remain self-insured, rely on friends and family, protect assets so they can qualify for MassHealth, or whether it makes sense to transfer some risk to an insurance company buy purchasing long-term care insurance.
In summary, the Lifetime Protection Program Event on Planning for and Managing Life’s Changes Along the Elder Care Journey was well received by those in attendance. If you would like a DVD on the topic of Life Care Planning please contact our office at (781) 237-2815. We also have a DVD series from a previous Lifetime Protection Program event on Safe Investing for Seniors available upon request.
To learn more about protecting your home, spouse, family and life savings and to attend a free, educational Trust, Estate & Asset Protection Workshop. Register online or call 800-964-4295.