So, you’ve designed a plan to address the challenges you may face as you age. You’ve taken action to put the plan into place. So, all of your bases are covered…right? One last step is needed to complete the Elder Care Planning process...
Mistake #3 – Failure to COMMUNICATE!
To who, you ask? First and foremost, you should communicate your plan to your family and/or other important people in your life who might play a part in making sure the plan is put into place as designed. If those who might help support you in the future aren’t aware of your desires and of the legal, financial and care plans you have put into place, all might be for naught! Additionally, you should communicate your Elder Care plan to your professional partners…your financial planner, your attorney, your CPA and/or any other important professional advisor who might play a part. It is important for all of these team members to know the game plan to help ensure that your future Elder Care plan will be a success.
If you would like to discuss Elder Care Planning for your future, feel free to contact me at Sandy.Adams@CenterFinPlan.com.
Sandra Adams, CFP® is a Financial Planner at Center for Financial Planning, Inc. Sandy specializes in Elder Care Financial Planning and is a frequent speaker on related topics. In 2012 and 2013, Sandy was named to the Five Star Wealth Managers list in Detroit Hour magazine. In addition to her frequent contributions to Money Centered, she is regularly quoted in national media publications such as The Wall Street Journal, Research Magazine and Journal of Financial Planning.
Five Star Award is based on advisor being credentialed as an investment advisory representative (IAR), a FINRA registered representative, a CPA or a licensed attorney, including education and professional designations, actively employed in the industry for five years, favorable regulatory and complaint history review, fulfillment of firm review based on internal firm standards, accepting new clients, one- and five-year client retention rates, non-institutional discretionary and/or non-discretionary client assets administered, number of client households served.
Any opinions are those of Center for Financial Planning, Inc., and not necessarily those of RJFS or Raymond James.