When assisting your parent(s) or loved one in planning for the future, discussions are a must prior to the occurrence of sudden health changes. Understanding their wishes when these changes occur will give you peace of mind instead of trying to make decisions in the midst of the storm.
The first step in this process is to make sure all necessary documents are in place. These documents cover financial as well as health care decisions and serve as a bedrock to your wishes. To protect these wishes in the event that you are unable to act on your own behalf, a power of attorney is needed.
Power of Attorney
Powers of Attorney for both financial and health care matters will designate the person whose loved one wishes to make decisions in these areas when they are no longer capable of this decision making process.
Please note: without these documents in hand, the proxy will NOT be able to access bank accounts, lock boxes or even discuss health care issues with physicians. Having these in hand allows for a smooth continuation in meeting the daily needs of your loved one when they are no longer able to function on their own.
Living Wills clearly and fully explain your parents’ wishes regarding comfort and end of life decisions. Many adult children struggle with the emotional upheaval of “What would Mom want and is this the right thing to do?” when these documents are not in place.
If your loved one should have long term care insurance, their healthcare proxy should be in possession or have easy access to the policy, along with the Power of Attorney for healthcare matters. The insurance carrier will not discuss the policy’s benefits or attempt to activate the policy for anyone other than your loved one without the Power of Attorney in their possession.
Understanding the long term care policy prior to utilizing its benefits is a necessary step in making sure your loved one is financially protected for extended care needs.
A majority of seniors purchased policies many years earlier and do not have a clear knowledge of their benefits or what the policy will NOT cover. For instance, a “nursing home” policy which could be bought mistakenly thinking its long term care insurance, may or may not provide coverage for assisted living services.
Long Term Care Policies Can Be Tricky, Blakeford Can Help:
Blakeford Senior Living specializes in offering custom long term care policies that work for every senior. Our knowledgeable team informs you of all options and gives a thorough background of benefits so you can understand if it’s the right choice for you.
Get started on a plan, or learn more information by contacting us, today!