Wednesday, November 13, 2013

Adult Financial Planning-Tips for Caregivers

By Deborah M. Higgins/President/Higgins Capital

This is part of a monthly series on adult care financial planning for family caregivers.

Adult care is a full-time job and most of us already have a full-time job. You are now forced to incorporate the financial planning of a loved one into your own plan for a secure financial future.

Sometimes it’s the simple things that get us through the challenges we face. There are some simple tips for caregivers that may have slipped your mind, such as posting important telephone numbers, ways to safeguard the home, etc. Take a look at this Tips list to see if you can simplify your life as a caregiver:

• Post important telephone numbers in case of emergency (e.g., physician, emergency services).
• Safeguard your parent's home.
• Complete first-aid and CPR courses.
• Talk to your parent about the future; understand his or her wishes.
• Make sure your parent has a will, durable power of attorney, health-care proxy, and living will.
• Join a support group or cultivate friendships where you can talk openly about your caregiving responsibilities and challenges.
• Seek assistance from friends and relatives, community services (home health care, meal delivery, adult day care, etc.), and other sources.
• Talk to your employer. Some employers will help by offering flexible schedules or other assistance.
• Be aware that the Family and Medical Leave Act requires employers of 50 or more employees to grant eligible employees unpaid leave to care for a member of their immediate family who has a serious health condition.

Broadridge Investor Communication Solutions, Inc. does not provide investment, tax or legal advice. The information presented here is not specific to any individual's personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

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