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Plan Ahead for Long-Term Care
(Source: WebWire) - As roles reverse, boomers must plan for costs of aging parents' long-term care management. Jeannie Keenan explains, "Everyone who has an aging parent will find themselves at some point playing a role in that parent's health care management, whether that's the lead role or a supporting role."
Keenan offers tips to help adult children begin financially planning for the care of their aging parents:
- Start talking with aging parents about the issues and expense of long-term health care before a catastrophic event happens.
- Participate in parents' relationships with their physicians, attorneys and financial planners.
- Research home care, adult care and assisted-living opportunities in parents' communities - learn more about local resources that can help, if and when they are needed.
- Research state and non-profit agencies that can provide services and support.
- Calculate real costs associated with long-term health care and work with a local certified financial planner to ensure these costs can be met.
Go to full story: webwire.com
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