Touching Hearts Senior Care is a privately owned company that specializes in offering assistance to seniors to help them maintain their independence. THSC provides in-home non-medical services to seniors and those with disabilities. As such, THSC's caregivers can help with anything ranging from light housekeeping and laundry to bathing and dressing needs to incidental transportation. All THSC caregivers are thoroughly screened before hire and are licensed, bonded, and insured. Caregivers are available for time frames ranging from one hour to around-the-clock care.
THSC also specializes in Elder Care Case Management. With these services, THSC Case Managers are able to help older adults and their loved ones with all of the following:
CARE MANAGEMENT
THSC works with older adults and their loved ones to develop a plan of care and services that promotes autonomy and independence. We assist with Long-term Care Policy Reviews, Asset Protection Planning, Alabama Medicaid Exempt Trust Accounts, and Medicaid/VA Eligibility.
FAMILY MEDIATION
We work with the older adult and their loved ones to facilitate communication and informed decision making. This process can help avoid expensive and emotionally taxing court involvement. Voluntary mediation can help families confidentially settle disputes concerning: Care assessment and assignment of responsibilities; Living arrangements; Who should be appointed power of attorney, health care proxy, etc.; How finances should be managed; Estate and trust planning and administration.
DAILY MONEY MANAGEMENT
We encourage individuals to remain in control while receiving the right amount of support in an effort to avoid errors that could potentially lead to both financial loss and loss of independence. We can assist the senior with any of the following: Paying bills and resolving billing discrepancies; Identifying need to create or update important legal documents; Inventorying documents for monthly budget and year-end tax planning; Negotiating with creditors.
MEDICAID AND VETERAN'S BENEFITS
We can help in accessing public and private benefits and entitlements, and can answer the following questions: How can I qualify for Medicaid and still protect my home and assets? How do I possibly avoid Medicaid spend-down and understand look-back periods? What is a Medicaid Exempt Trust and how does it benefit me? Do I understand VA benefits and what is Aid & Attendance? Do I understand what my long-term care policy provides?
PATIENT NAVIGATION
Have you or a loved one just been released from the hospital? We can help you identify and prioritize your unique needs such as utilizing employee benefits and health and long-term care insurance claim reconciliation.
Questions? Please contact Certified Senior Advisor Gina Germany
Phone 251.445.4204
gina@touchingheartsseniorcare.com
Knowing When to Get Help
Showing posts with label warning signs. Show all posts
Showing posts with label warning signs. Show all posts
Wednesday, April 27, 2011
Monday, June 14, 2010
Warning Signs that a Senior Might Need Help Managing Finances
The following is Provided by CSA: http://www.csa.us/
Even though many seniors have planned for their retirement by investing in IRAs and 401(k)s, paying off large debts such as cars and homes, and reducing their discretionary expenses, there is one factor that people tend to overlook: planning for the day when they turn their money management over to someone else.
Because seniors are living longer than ever, thinking about the possibility of a time when they need help with financial matters is increasingly necessary. For many independent seniors, the idea of turning over their money management is frightening, but advance planning can make the transition easier both for seniors and their adult children.
Where to Start
It's best to discuss finances before a problem arises. Once the money is running out or a medical emergency arises, it might be too late for a financial plan to be effective.
Signs that a senior might need help in managing his or her finances include the following:
• bounced checks
• piled up mail
• unpaid bills
• mounting credit card debt
• calls from creditors
• forgetfulness
Financial Document Checklist
In organizing a senior's finances, the caregiver must obtain a variety of information. The following financial information and/or documents should be located (or created), then stored in a safe place.
• Bank account numbers/brokerage statements
• Names and contact information for lawyer, broker and insurance agents
• Social Security cards
• IRA/401(k)/pension statements
• Tax returns for the past 3-5 years
• Deed to the house
• A list of debts (loans, etc.)
• Copies of all insurance policies
• Copies of wills
• Copies of all power-of-attorney documents and trusts
• Prepaid funeral contract
Tread Lightly
Children and other caregivers should raise the subject of finances during a stress-free time, and in a non-threatening manner. It's often helpful to include an attorney or financial advisor in this discussion. Focus on planning for financial security rather than sharing opinions about financial priorities.
A good first step is to get a firm handle on the senior's income and expenses. Remember to approach this stage in a non-judgmental manner, simply gathering information. Determine the following:
• Monthly income
• Monthly expenses
• How bills are paid (by written check versus automatically)
• Medical and other extraordinary expenses
• Outstanding debt
• Investments
Be sure to over-estimate how long the senior will need to live on his or her fixed income.
Other Considerations
In addition to financial records, the caregiver should obtain information about the senior's:
• Will
• Living Will
• Power of Attorney
• Insurance: life, medical, long-term care, disability
• Estate planning
Seniors often delay writing wills or planning for the disposal of their estate in the event of their death. But the best time to address these topics is while the senior is still fully cognizant and able to make sound decisions.
Get More Involved
Once the caregiver has a full picture of the senior's finances, a collaborative financial plan can be created. In the short term, the caregiver should be added to all of the senior's accounts (financial accounts, as well as household-type accounts). Adult children might need to monitor their parents' finances periodically, perhaps simply by regularly reviewing financial statements.
Over time, the caregiver can take over managing the senior's finances. Because this is a delicate transition, it's helpful to follow some guidelines:
• Maintain complete and accurate records.
• Approach the task with a professional attitude, rather than personal.
• Keep the senior involved and aware of his or her finances as long as possible.
Security in the Golden Years
Discussing finances with an aging parent can be difficult for adult children. Seniors can be reluctant to give up their independence, so it's helpful to let them maintain a sense of control over their financial situation. A shared approach is best at first, with a gradual transition of financial responsibility to the caregiver. The ultimate goal is to ensure the senior's financial security, to make the "golden years" as comfortable as possible.
Even though many seniors have planned for their retirement by investing in IRAs and 401(k)s, paying off large debts such as cars and homes, and reducing their discretionary expenses, there is one factor that people tend to overlook: planning for the day when they turn their money management over to someone else.
Because seniors are living longer than ever, thinking about the possibility of a time when they need help with financial matters is increasingly necessary. For many independent seniors, the idea of turning over their money management is frightening, but advance planning can make the transition easier both for seniors and their adult children.
Where to Start
It's best to discuss finances before a problem arises. Once the money is running out or a medical emergency arises, it might be too late for a financial plan to be effective.
Signs that a senior might need help in managing his or her finances include the following:
• bounced checks
• piled up mail
• unpaid bills
• mounting credit card debt
• calls from creditors
• forgetfulness
Financial Document Checklist
In organizing a senior's finances, the caregiver must obtain a variety of information. The following financial information and/or documents should be located (or created), then stored in a safe place.
• Bank account numbers/brokerage statements
• Names and contact information for lawyer, broker and insurance agents
• Social Security cards
• IRA/401(k)/pension statements
• Tax returns for the past 3-5 years
• Deed to the house
• A list of debts (loans, etc.)
• Copies of all insurance policies
• Copies of wills
• Copies of all power-of-attorney documents and trusts
• Prepaid funeral contract
Tread Lightly
Children and other caregivers should raise the subject of finances during a stress-free time, and in a non-threatening manner. It's often helpful to include an attorney or financial advisor in this discussion. Focus on planning for financial security rather than sharing opinions about financial priorities.
A good first step is to get a firm handle on the senior's income and expenses. Remember to approach this stage in a non-judgmental manner, simply gathering information. Determine the following:
• Monthly income
• Monthly expenses
• How bills are paid (by written check versus automatically)
• Medical and other extraordinary expenses
• Outstanding debt
• Investments
Be sure to over-estimate how long the senior will need to live on his or her fixed income.
Other Considerations
In addition to financial records, the caregiver should obtain information about the senior's:
• Will
• Living Will
• Power of Attorney
• Insurance: life, medical, long-term care, disability
• Estate planning
Seniors often delay writing wills or planning for the disposal of their estate in the event of their death. But the best time to address these topics is while the senior is still fully cognizant and able to make sound decisions.
Get More Involved
Once the caregiver has a full picture of the senior's finances, a collaborative financial plan can be created. In the short term, the caregiver should be added to all of the senior's accounts (financial accounts, as well as household-type accounts). Adult children might need to monitor their parents' finances periodically, perhaps simply by regularly reviewing financial statements.
Over time, the caregiver can take over managing the senior's finances. Because this is a delicate transition, it's helpful to follow some guidelines:
• Maintain complete and accurate records.
• Approach the task with a professional attitude, rather than personal.
• Keep the senior involved and aware of his or her finances as long as possible.
Security in the Golden Years
Discussing finances with an aging parent can be difficult for adult children. Seniors can be reluctant to give up their independence, so it's helpful to let them maintain a sense of control over their financial situation. A shared approach is best at first, with a gradual transition of financial responsibility to the caregiver. The ultimate goal is to ensure the senior's financial security, to make the "golden years" as comfortable as possible.
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