Financial Planning and Alzheimers/Dementia

August 27, 2010

 

Financial Planning and Alzheimers

via Financial Planning and Alzheimers.

I don’t believe that a month goes by without hearing about someone I know who is going through caring for or getting care for a parent, spouse or other loved one who is suffering from Alzheimers or dementia. You know, the phone call you get from a neighbor telling you that your parent is walking down the street crying, shouting or cursing.

 For those of us (myself included) who are living through the decline of aging parents with Alzheimer’s or dementia-like neurological diseases, unfortunately this is a common occurence.  In fact one time during the early stages of  his dementia, my Father who was very disoriented thought that he was in a hotel in New York City when he was actually in the hospital near our home in Georgia! 

Without preparation, families are caught flat-footed when they realize that their parent needs some kind of full time care. Many families in these circumstances are quickly thrown into emotional and potential financial crisis without any prior preparation.

 That is why it is very important to try to evaluate the financial and  impacts from Alzheimers and dementia ahead of time. Believe me, the emotional impacts will be hard enough to deal with…

Read this article and get more informed!

Jane Nowak is a Financial Planner with Kring Financial Management located in Atlanta, Ga. Jane’s practice focuses on Women’s Retirement Planning and Financial Planning for Women. Her articles have been published on line at NASDAQ, Financial Planning Association and Womenetics.com. Follow Jane on Twitter at: http://twitter.com/moneygal2020

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June 3, 2010

Long-Term Health Care’s ‘Black Hole’.


Long Term Care – Up Close and Personal

June 3, 2010

Without shame, I have to say that I am a HUGE fan of long term care insurance. Long term care insurance has made a tremendously positive difference in my life. You see, my father has dementia and Parkinson’s.

These diseases have been unfolding in my Dad’s life for around 5 years, I think. Does anyone out there have parents who don’t want to tell you anything because they ‘don’t want you to worry’? If so, you know exactly what I mean.

Well my brother, sisters and I found out about my Dad’s dementia after he started making a series of ill-advised business deals. …Definitely a blog for another day. At times, Dad thought he was in a hotel rather than at home. One time he was found sleeping on the floor in the den. I could go on and on. But, I won’t.

After 4+ years, Dad is now completely bedridden, doesn’t or can’t talk and he seldom recognizes any family members. In short, he is a heart breaking shell of his former self.

Thank goodness he had good financial advice that he followed! A while back, Dad purchased long term care insurance well before his cognitive health began to deteriorate. Long term care insurance doesn’t pay all of the bills. But, it does give us very viable options to provide for his care.

It is painful enough losing your parent to the mental decline caused by dementia or Alzheimer’s. But, to be grieving for the cognitive absence of your parent AND having no means to provide a decent level of daily care for them would be just too much to bear. I absolutely don’t know how families provide long term care for their loved ones without some kind of financial assistance.

Viva long term care insurance! 

Jane Nowak is a Financial Planner with Kring Financial Management located in Atlanta, Ga. Jane’s practice focuses on Women’s Retirement Planning and Financial Planning for Women. Her articles have been published on line at NASDAQ, Financial Planning Association and Womenetics.com. Follow Jane on Twitter at: http://twitter.com/moneygal2020


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