Preparing for the Unexpected: A Guide for Seniors and Their Adult Children

One of the things we emphasize with our clients—of all ages—is that planning for the unexpected is crucial. We do a lot of planning in our lives, from where we’ll go to college to where we’ll vacation. We may plan for retirement, but unfortunately we don’t put enough planning into what might happen to interrupt those plans.

For older adults, addressing potential crises before they occur can alleviate stress, prevent complications, and ensure they have the resources to pay for unexpected care. Here’s a comprehensive guide for seniors and their adult children to prepare effectively for any future challenges.

1. Prepare Legal Documents

Advance preparation is key. Ensure that all legal documents are up to date and accessible. Key documents include:

• Will and testament: Outlines the distribution of assets and care of dependents.
• Power of attorney for financial matters: Grants authority to a trusted individual to manage financial and legal matters according to your instructions.
• Power of attorney for health care matters: Grants authority to a trusted individual to manage the individual’s health care according to your instructions and preferences.
• Advance health care directive: This is the document that specifies yourp references for medical care if you become unable to make decisions.

Store these documents in a safe but accessible place, and ensure the designated individuals have copies and understand their responsibilities. Share your health care documents with your doctors.

2. Evaluate In-Home Care Agencies

Research local in-home care agencies—even if you don’t need them now—to understand the services they offer, their costs, and their reputation. Consider:

• Services offered: Do they provide the specific services your loved one might need, such as medication management or physical therapy?
• Staff qualifications: Are caregivers licensed and trained?
• Client reviews: What do current and former clients say about their reliability and quality of care?

Having a list of pre-vetted agencies can speed up the process of arranging care when needed.

3. Plan for a possible move

As in item #2, investigate nearby senior living options now so you are prepared if and when a move becomes necessary. This includes assisted living, memory care, and nursing/rehabilitation facilities.

• Type of community: Understand the differences between assisted living, nursing homes, memory care, and independent living facilities.
• Location and amenities: Consider proximity to family, medical facilities, and social activities.
• Financial considerations: Assess the costs and what is covered by insurance or Medicare.

Visit several communities to gauge where you would feel most comfortable and supported.

4. Set Up Emergency Contacts

Create a list of emergency contacts that includes family members, close friends, health care providers, and legal advisors. Distribute this list to everyone involved in your care, and keep copies in easily accessible locations.

5. Consider Technology Solutions

Consider using medical alert systems or home monitoring devices that can provide additional safety and prompt assistance when needed. Apps that manage medication schedules and health appointments can also be beneficial.

6. Check in Regularly

For adult children, making regular check-ins with your parents can help you monitor their well-being and provide peace of mind. Call or visit regularly, even if it’s just a video chat.

7. Have a Financial Plan

Review financial resources and ensure there’s a plan for covering unexpected costs. This might include long-term care insurance, savings, or other financial products specifically designed for senior care. Don’t forget to include funeral costs.

We’re Here to Help

Our team at Longevity Income Solutions is ready to help individuals and/or families tackle these important preparations. Whether it’s help evaluating potential senior living residences or paying for urgent care needs, you can rely on our expertise. Contact us today—what a great first step in being prepared!