Caring for an aging loved one

Joe*, a busy Manhattan-based financial services executive, came to us in a frazzled state as he faced the difficulties of caring for his aging father, Al. While on a business trip to the west coast, Joe had received a call from his father, who lived alone in a small apartment in Queens, explaining that he had suffered a bad fall and was unable to walk. Fortunately, another family member on the east coast was able to attend to Al until Joe could return home, but the prognosis was not good. Unable to get out of bed in his apartment, Al had to be sent to a rehabilitation center.

When Joe went to see his father at the rehab center, he discovered that Al had contracted pneumonia since his arrival, causing his heart rate to drop so dramatically that he required a pacemaker. Joe made several phone calls to find another facility to move his father to where he would receive better care, alternating those calls with ones to Al's insurance company, trying to untangle the maze of what amount of his stay and various procedures would be covered.

Joe was also realizing that his own work was being compromised by the inordinate amounts of time he was dedicating to sorting out his father's situation. And while he came to us for our help in determining how Al's care could be funded, we were able to help Joe with even more.

First, we tapped into our network of strategic partners who specialize in case coordination and identifying care centers throughout the country to sort through Al's insurance issues and locate a suitable rehab facility for him.

Then we turned to the issue of funding ongoing care. We collected Al's financial data and discovered that, based on his level of assets, he would qualify for an amount of government assistance that would afford him the quality of care that he needed while still being able to pass on some of his assets to his children.

Caring for an aging loved one is nearly always challenging, and often confusing and frustrating as well. But as Joe and Al's story illustrates, it doesn't have to be when you can tap into solutions that help preserve both your assets and your quality of life.

* Names and some details have been changed to protect client confidentiality. Your particular situation can differ based on your unique needs and objectives.