Collin County Living Well Magazine March/April 2016 | Page 23

Getting Old is
Harder Than it
Used to Be
By Lori A. Leu, Erin W. Peirce,
Lauren E. Olson, and Laura J. Chavero
programs. If you have the advantage of time to plan in
advance, long-term care insurance, or its equivalent, can
make all the difference.

T

hese days, getting old seems to be harder than it
used to be. Families live farther apart and aren’t
always able to care for each other the way they
did in the past. People are living longer, and providing quality care is getting tougher. And, there
are many in the “sandwich generation” who are raising
children and taking care of parents at the same time. That’s
a lot to juggle. Though we can’t reverse the aging process,
there are some things we can do to make it a little easier on
ourselves and our loved ones.
Fraud Awareness: Fraud on seniors happens more
than we like to imagine. We see countless cases where
seniors have been manipulated by someone they thought
they could trust: a son, a daughter, a family friend, a teller
at a bank, or even a caregiver. These people befriended
the seniors and then abused their position to exploit them,
almost always in ways that were financial or material. Take
the time to talk to your loved ones regularly about their
lives and daily activities and listen carefully for hints that
they are struggling to manage on their own. Remind them
not to give out their personal information or bank account
numbers over the phone, and that anyone who pressures
them for money or asks that they withhold information from
family members does not have their best interests at heart.
Make yourself available to help and make sure they know
you care about their well-being and financial security.
Know Your Health Care Options: It’s never too
early to get the facts on your health care coverage and
available public benefits. Many people don’t know what
private health insurance and Medicare will and will not
cover. People are often shocked to find out that Medicare
or their health insurance will not pay for long-term skilled
nursing, assisted living, or at-home care, all of which can
cost several thousands of dollars a month. Some people
can get government benefits, such as Medicaid or Veterans’ benefits, but not everyone qualifies for these public

Long-Term Care Planning: Every week, we are asked
to help families who are faced with the challenges of Alzheimer’s and other forms of dementia. These situations
are difficult for everyone involved. Debilitating illness can
become the kind of worst-case scenario that leaves a family
in financial ruin due to lost income, medical expenses, and
nursing care costs. It’s impossible to plan for every circumstance that could arise in the future, but having your estate
planning documents in order as soon as possible will definitely help. Medical and financial powers of attorney allow
you to designate agents to assist with medical decisions
and financial matters and are the primary way to avoid the
need for guardianships.
Guardianships: Sometimes, it becomes clear that a
person no longer has the capacity to care for or protect
themselves. A judge can appoint a legal guardian for
someone who is suffering from dementia or any other disability that impairs judgment and decision-making. The
appointed guardian will typically oversee personal affairs and finances. Guardianships can be difficult, but are
sometimes necessary to protect a loved one from exploitation by unscrupulous or misguided people. One of the
only ways to ensure you have some control in who will be
appointed guardian is to sign a Declaration of Guardian
while you have capacity. A Declaration of Guardian allows you to choose who you do, or do not, trust to act as
your guardian. A little advance planning can make things
much easier down the road, and can help prevent heartache and fighting.
Find Trusted Advisors: Whether you’re helping a
family member deal with aging or whether you’re facing
those challenges yourself, don’t go it alone. Seek qualified
professional advice on health care, insurance, legal documents, and financial planning. There are many trust-worthy professionals in our community. Take the time now to
build relationships with people you trust to help you plan
for your future. You’re doing your family an invaluable
service when you complete a plan well before you need it.

Lori A. Leu, Erin W. Peirce, Lauren E. Olson, and Laura J. Chavero are Elder Law attorneys with Leu & Peirce,
PLLC in Plano, Texas. They help clients sort through these issues every day and can be reached at 972-996-2540.
COLLIN COUNTY Living Well Magazine | MARCH/APRIL 2016

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