Retirement Living
Retirement communities offer those entering retirement ( or as young as 55 +), and beyond , a community designed to fit the lifestyle of older adults . Homes are typically fit to satisfy smaller families of one to two people , offer single-level living or condo-style homes , and are low- or no maintenance , offering several amenities . Many people choose to sell their larger homes and downsize to a retirement community for the builtin neighborhood , making socialization easy and fun . The social interaction seniors receive from living in a retirement community provides them with a higher quality of life and even potentially reduces the risk of dementia .
When looking into a retirement community , ask friends or family who may already live there what they like about it and see if it ’ s a lifestyle you ’ d like for yourself . When deciding on a specific community , think about where you ’ d want to live . Do you want to stay close to family or move somewhere warmer ? Do you want to move close to the city or out to the suburbs ? You ’ ll also want to look at the activities and amenities offered at each community to see what piques your interest . If your faith is what grounds you , you may find a retirement community that ’ s rooted in religion . Or if you want to maintain your active lifestyle , look for a community offering outdoor activities , yoga , or walking groups . There is something for everyone ; you just have to put in the time to search for a community that suits you .
When deciding on a new home , be sure to research costs . While the price of the home may fit nicely into your price range , the extracurricular activities associated with retirement communities may have additional fees . You ’ ll want to know all costs up-front to make sure you ’ re setting yourself up to maintain your quality of life .
Assisted Living
Assisted living caters to those requiring assistance with daily tasks such as bathing , getting dressed , and using the bathroom . There are still several amenities offered at assisted living facilities such as activities , on-site restaurants , and social gatherings to keep aging seniors active and entertained . Those in assisted living don ’ t require 24-hour assistance and care , just some aid when and where they need it , so there is freedom to go about their daily activities .
There are certain requirements for assisted living facilities , so it ’ s important to look into what the admissions process entails . Most facilities want to understand medical history and what a typical daily care plan would look like .
The decision to move parents or loved ones to an assisted living facility isn ’ t always easy , but when they are unable to fully care for themselves , moving to a place that is able to offer the care they need is often the right choice . Making this decision may be hard , but having to care for an aging parent at home isn ’ t always feasible .
When searching for a location for your aging loved one , it ’ s important to consider cost . The costs associated with such close care are significant , but cover housing , transportation , housekeeping , meals , and utilities , and additional fees may be incurred for other activities or amenities . It ’ s important to understand what all is covered . There are some options available to save on costs for assisted living such as VA benefits and certain life insurance plans , and Medicaid and Medicare could assist in paying for care .
Elder Law
Having a legal professional assist in elder law planning will set you and your loved ones up for success in later years . Elder law planning helps ensure that seniors are financially prepared for their aging care and often helps navigate the complex legalities of state and federal regulations regarding their aging care decisions . Attorneys who specialize in this type of law aid in anticipating future medical needs , financially preparing for long-term care solutions , protecting assets from Medicaid spend-down , and can assist with qualifying for long-term benefits .
When aging parents or loved ones are deemed incapable of making responsible decisions on their own , they may have a “ guardian ” appointed to make decisions for them , as granted by the court . This guardian will take ownership of decisions including legal , financial , and health care and can work closely with an elder law attorney to make sure the loved one is well cared for . There are also alternatives to guardianship should a person be able to make some decisions , including power of attorney , representative , conservatorship , or revocable trust . These options should be considered , if possible , as they are less restrictive to the aging individual than guardianship .
Creating a relationship with an attorney early on in your elder care can allow you to gain trust and a mutual understanding of your wishes as you age . This professional will be most apt to provide you with the knowledge you need to navigate the challenging waters of elder law .
Estate Planning
No matter your age , you should be prepared for what will happen to your assets should you die . Focusing on wills and trusts , estate planners can assist you in laying out a road map for your children , pets , home , and other assets to ensure that everything is taken care of the way you intended . Estate planning starts with a solid relationship with an attorney who understands your financial state and your wishes for how your assets should be distributed . Estate planning is typically fluid and could change often with births , deaths , marriages , divorces , and other large life events .
Estate planning can also assist you in identifying a power of attorney who could handle your affairs should you be incapacitated , and creating an advance health care directive to name someone who could make health care decisions if you ’ re unable to do so yourself .
Younger families may choose to focus their estate planning on building a living will and naming guardians and trustees should both parents die unexpectedly , while aging adults focus more on estate planning and Medicaid issues . Whatever your circumstances , it ’ s important to find a legal professional you can build a relationship with and trust with your future .
Setting yourself up to be financially sound could make your golden years exceedingly more enjoyable . Knowing that you and your loved ones will be well cared for makes the time and effort you put into researching and educating yourself on the ins and outs of retirement planning , elder law , and estate planning all worth it . n
Aging and Elder Care SPECIAL SECTION
SEWICKLEY ❘ SPRING 2023 29