Caring for an ailing loved one is demanding, time-consuming, and quite stressful. Often, caregivers spend a great deal of time making sure their loved one’s needs are met and their affairs are on track. What often goes quickly out the window? The caregiver’s own needs. The following are ways to detect if you, as a caregiver, have neglected yourself to the point of burnout.
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As parents become older, there comes a point where you realize that you need to step in and help them with their finances. The red flag may be a bounced check or noticing that some bills are past due, or you could discover much more serious problems like the fact that mom or dad has been taken in by a telemarketing scammer.
The steps below are your roadmap to getting your loved one back on track.
/by Raya's Paradise1. Know Your Parent’s Finances
The first thing every adult child needs to know is the condition of your parent’s finances. This means that you need to know what debts they have (credit cards, loans, mortgages, etc…), as well as what their living expenses are. Familiarize yourself with utilities, credit cards, and any bills they have and make sure you start paying them right away. You also need to know if there are any safe deposit boxes, and if you parents already have a financial advisor. It may be beneficial to take a look at your parent’s tax returns to get an idea of their financial situation.2. Learn About Your Parent’s Income and Insurance Situation
Find out what sources of income your parent has. Find out of if your parent is receiving income from social security, what Medicare options they’ve chosen, and whether they receive Medicaid. Also find out if they have purchased long-term care insurance or other forms of insurance to make sure any premiums are kept up to date and policies are still in order.3. Establish Who Has Legal Authority Over Your Parent’s Finances
When a parent becomes unable to care for their finances, it is especially important for adult children to know who has legal authority to manage the estate. Find out if your parents have already established legal guardianship with a relative, financial advisor, or with an executor. Pre-planning in this area can be especially important as it‘s more difficult to establish power of attorney if your parent develops dementia or Alzheimer’s. If you parents haven’t established a legal guardian before they become incapacitated, you’ll need to seek guardianship through the court system. A judge must agree that your parent is not legally competent to handle their own finances and that you are, which may take time.4. Contact a Financial Advisor
A financial advisor or accountant can help you not only sort out your parent’s current finances, but also help you plan for the future. Depending on how you parent’s have invested, there may be other ways to maximize their assets to help finance their transition to assisted living. Families comparing local care costs can also use an Orange County assisted living cost checklist to track monthly rates, care fees, insurance considerations, and projected expenses. A financial advisor can help you navigate the options and ensure the best possible course for your parent’s financial future.5. Get Everything in Writing
In order to safeguard both your parent’s and your own financial future, it’s best to make sure you have written documentation of everything related to their finances. Make sure you have legal authorization to act on their behalf. Any access to funds should be documented and any decisions with a financial advisor should be copied into a written document so there is a paper trail to help protect you and your parent legally. Having written records will also help if conflict or concern arises among siblings or other relatives. Watching a parent age can be a difficult process emotionally for adult children, but it doesn’t have to be difficult financially. By following these steps, adult children can help ease the transition for their parents, ensuring a brighter and more secure financial future.Being the caregiver to an aging parent may be one of the toughest family roles imaginable. The task can be as demanding as watching a small child, with the added heartbreak of seeing mom or dad decline…plus the challenge of navigating the changing parent-child dynamic. But there is hope: stress can always be managed. Here are a few tips to use during those times when you feel like it’s all too much.
/by Raya's ParadiseDo Not Attempt to Become a Lone Ranger
First, do not attempt to become a lone ranger. One of the greatest areas of stress comes from the feeling of taking on more than we can handle, and that is as true in the caregiving role as it is in other areas of our lives. Other relatives may be both willing and able to help. You may also be surprised to find that those outside the family, such as family friends or neighbors, may also be there to lend a hand. It is important to remember that aside from the task of caring for your aging loved one, there are necessary tasks related to caregiving, and having someone else shoulder those for a while may help you build in some much needed time for yourself. After a care transition, a first month in assisted living checklist can also help families share responsibilities, track staff communication, monitor routines, and reduce the pressure on one caregiver.Schedule In Your Me Time
Second, schedule in your “me” time. One of the greatest challenges family caregivers have is the overwhelming tendency to neglect their own needs in favor of their loved one. It is critical for caregivers to schedule some non-negotiable time to participate in activities that stimulate and interest them, because caregiving can (and often does) demand a significant amount of time and can deplete an individual both physically and emotionally. Schedule such activities as an exercise class, a movie, date night with a significant other, a massage, dinner with friends, taking classes on a subject of interest, etc… By doing so, the caregiver remains in touch with his or her own life.Pay Attention to Your Body
Third, pay attention to your body. While most caregivers begin their roles in an overall state of good health, statistics show that they are more likely to develop symptoms of depression, anxiety, obesity, and weaker immune response as time goes on. Exercise is a particularly effective method of de-stressing the body, with the added bonus of boosting overall energy levels. Getting outside for fresh air can also be highly invigorating. All the great advice we give our loved ones — about eating balanced meals, drinking plenty of water and getting adequate rest — are just great rules of thumb for everyone to live by… including caregivers.Build In a Support System
Fourth, building in a support system can be very beneficial. Providing care for an aging loved one brings forth a flood of emotions. After all, it is during this time that the caregiver witnesses the frailty and physical decline of the person whom they have always looked to for their own care. Seeking the services of a psychotherapist or joining a support group (through a church, synagogue, or local agency on aging), caregivers can often receive sound advice on how to cope during this emotionally taxing period. It is important also for the caregiver to not place unrealistic demands upon themselves but to simply do the very best they can.Cherish Every Moment
Finally, cherish every moment. Glean the wisdom of these years and forgive any past disappointments you may be harboring against your loved one. Resolve any issues that may still linger, and commit to enjoying each precious moment available. Remember to be kind to others, understanding that each person operates the best they can with the knowledge they have. Be gentle even when expectations go unfulfilled. With a slight shift in perspective, you may find — as others have — much greater enjoyment of life’s simplest gifts as an unexpected bonus from caregiving.Corporate Office / General Information
Raya’s Paradise, Inc.
1156 N Gardner St.
West Hollywood, CA 90046
(Directions)
Tel: (310) 289-8834
Fax: (323) 851-0375
E-mail: Info@RayasParadise.com
Featured by Assisted Living Magazine as one of the best communities in Orange County
