itemized and organized
Records and reporting statements in known location
Account numbers and access information are in a safe, known location
Bank account and retirement account numbers and access are safe, in known location
Computer passwords for accounts are in a safe, known location
Record of contents in the safe deposit box (es), possibly add additional signature on box, and know where the keys are
•Insurance policies are valid, current and organized
•Real property mortgage, deeds, and titles are itemized and organized
•Personal property and known valuables are itemized and documented
Antiques
Collectibles
Fine art
Gold/SilverJewelry
China/Crystal
•Stashed Valuables
Be sure to ask your parents if there are any known stashes in the house or on the grounds (gold coins, jewelry, cash, stock certificates, etc). Note: Reference “Finding Everything” section for the listing of places to look.
LIVING REVOCABLE TRUST
A living revocable trust is an alternative to a will. When deciding between a will and a living revocable trust, it is best to seek legal counsel.
To follow are a few basics about a living revocable trust:
•Does not need to be administered by probate court
•Gives instructions for distribution of property upon death
•Goes into effect if unable to handle financial or personal affairs due to incapacity or disability
•Transfers ownership of property to a designated trustee
•Identifies beneficiaries
•Identifies a successor trustee
•Can be finalized more quickly than a will
Section II
One or Both Parents Are Living & in Failing Health
PREPARING FOR THE TRANSITION
Part of preparing for a transition is to understand the available resources in your parents’ community, or your community, should additional support be needed as your parents begin to show signs of failing health. If the transition can occur over time, then some resources can be used as a means of providing support and care while still in their home. Prepare in advance of the crisis, and maintain a folder of these resources.
•Consult a geriatric care manager in the area (http://www.caremanager.org).
•Seek out community resources offering support to senior citizens at home.
Meals on Wheels
Senior citizen centers
Churches
Synagogues
Christian Ministries
Respite Care
Adult Day Care
Companion care at home
•Make frequent visits and daily phone calls a part of the routine.
•Alert parents’ neighbors.
•Notify local law enforcement and emergency personnel.
•Install home alarm or video monitoring system.
•Consider adding a trusted, local family member to bank accounts to assist with bill payment.
•Consider ordering a medical alert device.
•Investigate hiring a home health care nurse (in home care, either skilled or non-skilled).
•Consider the demands placed upon the nearest sibling or family member.
•Consider home modification or equipment needed to extend parents’ home stay.
Railings
Bathroom fixtures
Stair lift
Door handles
Move bed to first floor
Multiple walkers
Potty chairs
Elevated toilet seat
Grippers /arm extenders
Entrance ramp
Check door widths (3 ft)
Hallway widths (3 ft)
Roll-under sink
Light switch heights
•Obtain aids for parents such as pill distribution system, magnifiers, non-skid mats.
THE RELOCATION DECISION
With the eventual likelihood that they will need to be relocated, part of what needs to be decided is if they would relocate to live with or near you, another sibling, or stay in their hometown. To make the best decision for all, use these guidelines:
•Talk about it – What do your parents want? What are their wishes?
•Don’t wait until a crisis – many places have 1-3 year long waiting lists
•When discussing a new residence or lifestyle change, consider bringing in a Geriatric Care Manager (www.NAPGCM.com). They will assess needs, offer solutions and anticipate future needs.
•Consider their current health care level. As healthcare needs increase, new decisions will have to be made – that will be time to re-evaluate.
•What is the current financial situation?
•Can they afford assisted living? In-home health care? Go live with family member?
EASING THE TRANSITION
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