Denton County Living Well Magazine March/April 2020 | Page 39

GETTING OLD IS
HARDER THAN IT
USED TO BE
By Leu & Peirce, PLLC
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 jug-
gle. 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, al-
most 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 avail-
able public benefits. Many people don’t know what pri-
vate health insurance and Medicare will and will not cov-
er. 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 Veter-
ans’ 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 Alz-
heimer’s and other forms of dementia. These situations are
difficult for everyone involved. Debilitating illness can be-
come 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 circum-
stance that could arise in the future, but having your estate
planning documents in order as soon as possible will defi-
nitely 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 per-
son no longer has the capacity to care for or protect them-
selves. 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 fi-
nances. Guardianships can be difficult, but are sometimes
necessary to protect a loved one from exploitation by un-
scrupulous 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 guard-
ian. A little advance planning can make things much eas-
ier down the road, and can help prevent heartache and
fighting.
Find Trusted Advisors: Whether you’re helping a fami-
ly member deal with aging or whether you’re facing those
challenges yourself, don’t go it alone. Seek qualified pro-
fessional advice on health care, insurance, legal docu-
ments, and financial planning. There are many trust-wor-
thy 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 Leu, Erin Peirce, Lauren Olson, Laura Chavero, and Zachary Stubblefield are Elder Law attorneys
with Leu & Peirce, PLLC located in Plano, Texas. They can be reached at 972-996-2540.
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