How can you reach that sweet spot of peace of mind when planning for your golden years? What will give you that peace of mind not only for you but for the ones that care about you most? Advance Life Planning encompasses both financial and healthcare planning, providing a roadmap for your golden years and avoiding burdening loved ones with difficult decisions. In this blog, we will discuss what it takes to get your affairs in order, including when to see an estate planning attorney and financial planner, what to look for in choosing these professionals, and how nurse advocates can help you navigate the healthcare system as an important part of your planning process.
We will discuss the key components of advance life planning and provide a checklist to help you get started on creating a comprehensive plan for the future. We have also included a FREE CHECKLIST you can download and keep handy to refer back to and guide you through this process. This checklist also comes with 2 videos to further help in this planning process. A video with a CFP, or Certified Financial Planner as well as a video with an Estate Planning Attorney.
You might want to talk to a nurse or patient advocate prior to meeting with your Estate Planning Attorney and Your Financial Planner. A good complete assessment of your goals for living out your golden years can well prepare you to meet with these essential professionals.
Some questions we would tackle include things like do you want to age in place or where do you want to live out the rest of your life? Have you thought about this? Do you have any chronic health conditions that may deteriorate as you age? What are your plans for meeting your healthcare needs? These are just a couple of questions we would go over with you. Everyone’s situation is unique. There is no “one size fits all” approach. Sitting down with an advocate that only has your best interest in mind is a great start to beginning the process.
Here is a brief idea of what planning may look like. We have a complete free checklist available for you to download. You can get access HERE.
- Nurse Advocacy: Nurse advocates play a crucial role in helping individuals plan for their healthcare needs as they age. A nurse advocate can conduct a comprehensive assessment of your healthcare goals, preferences for senior living versus aging in place, and any potential healthcare challenges you may face.
They can help bridge the gap between family discussions about difficult decisions and provide insight into the healthcare system. One of the key benefits of working with a nurse advocate is their ability to bridge communication gaps within families when discussing difficult decisions about aging plans or end-of-life care.
Nurse advocates are trained to read between the lines regarding healthcare issues and can often identify red flags in treatment plans that may go unnoticed by others. By having a nurse advocate on your side, you can feel confident that all aspects of your healthcare needs are being addressed proactively rather than reactively.
- Financial Planning: When it comes to financial planning for the future, it is crucial to have a clear understanding of your assets, liabilities, and goals. Meeting with a financial planner can help you create a comprehensive plan that takes into account retirement savings, investments, insurance coverage, and more.
Look for a financial planner who is experienced in working with individuals nearing retirement age and who has a fiduciary duty to act in your best interests. A big benefit here is once you have a plan for where you want to live out your golden years, a financial planner can help you figure out how your decisions are paid for. DeeDee Baze, CFP®, EA shares her insights on how a Financial Planner can assist in planning for your future.
- Estate Planning: Seeing an estate planning attorney is another important step in getting your affairs in order. An estate planning attorney can help you create a will or trust that outlines how your assets will be distributed after your passing. They can also assist with setting up powers of attorney and advance directives that specify your wishes regarding medical treatment if you become incapacitated.
It is important to understand the differences in wills, trusts, such as revocable or irrevocable, etc. Estate Planning Attorney Lenore shares her education on this topic in the video shared here for you. and designate beneficiaries for your assets.
- Choosing the Right Professionals: Look for professionals who have experience working with older adults and who understand the unique challenges that come with aging. When selecting a financial planner or estate planning attorney, look for professionals who come highly recommended by trusted sources or have positive reviews online. It is essential to choose professionals who listen attentively to your needs, communicate clearly about their services and fees, and are proactive in addressing any concerns or questions you may have.
When selecting an estate planning attorney, look for someone who specializes in elder law and has experience dealing with complex family dynamics.
Similarly, when choosing a financial planner, seek out someone who is a fiduciary and puts your best interests first.
Choosing a Patient Advocate:
When considering a Patient Advocate, what are their credentials? Are they board-certified? A board-certified patient advocate will come with the credentials BCPA. These advocates may have different backgrounds and experience. You may see nurses, social workers, nurse practitioners, therapists, lay people, pharmacists, and more that can become board-certified patient advocates. Make sure you ask, “What are your areas of expertise?”
Advocates are experts in finding resources so if you find one that may not be what you need the advocate would be more than happy to find the right advocate for you. For example, we are board-certified patient advocates, and our area of expertise is aging adults and their families and senior care. We would not be the right advocate to support helping you with your large medical bills. We could help some, but we would refer you to a Medical Billing Advocate that specializes in medical bills, coding, and working with insurance companies to make sure you get the best outcomes.
Benefits of Nurse Advocacy: Nurse advocates bring a unique perspective to advance life planning by being able to read between the lines regarding healthcare needs. They can identify missing elements in care plans that could impact your well-being or spot red flags in treatment plans that may need further investigation. By working with a nurse advocate, you can feel confident that all aspects of your health and well-being are being considered as part of your overall life plan.
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Conclusion:
Advance life planning is an essential part of preparing for the future and ensuring that your wishes are honored as you age. By taking steps now to get your affairs in order financially and medically, you can alleviate stress on yourself and loved ones down the road. Consider our FREE CHECKLIST today to guide you in the process.
Seeing a nurse advocate, estate planning attorney, and a financial planner, that can provide valuable guidance on creating a comprehensive plan that addresses all aspects of your life as you age gracefully. Start today by using our checklist as a guide towards achieving peace of mind knowing that everything is taken care of according to your wishes. Your family will also greatly appreciate your having things in order. We interviewed an adult daughter of an aging parent. Here is that interview. “Sharon” shares what her biggest fears are regarding the responsibilities of caring for an aging parent.
Thanks for stopping by and spending some time with us. Our goal is to bring you value, peace of mind, and assist you in your healthcare needs as you travel down the road the road of your golden years.
Take care,
Pam and Linda
Resources:
Free Resources Your Nurse Advocate Consulting
Free Advance Planning Checklist
YNA 1:1 Free Consultation to Discuss Your Unique Needs and Concerns
