Elder Care: Planning Considerations

Download Fiduciary Trust's Elder Care Paper

 

This two-part paper details key steps you or your loved ones might take for a more comfortable living and financial experience in the later stages of retirement.

Who should read this resource:

  • Individuals planning for retirement, particularly the later stages
  • Family members or loved ones of retirees
  • Professionals advising on retirement planning 

Download the paper to receive:

  • A comparison of retirement living options and costs
  • An overview of health care coordination resources
  • Key expenses to consider in retirement planning
  • Retirement spending level guidelines and potential funding sources
  • Potential roles of a revocable trust and durable power of attorney

Complete the form to download the paper.

EXCERPTS FROM THE PAPER:

“There are many choices to consider when identifying the best option for where to live as you age. If asked, most people would prefer to age in their own home. Aging in place is not always the best option, however, so it is important to explore this decision early in order to understand its potential costs and challenges.”

“A durable power of attorney can serve as an important complement to a funded revocable trust in handling financial matters for a person who is no longer able to do so. While the successor trustee can apply funds in the trust according to the person’s wishes as expressed in the instrument, the attorney-in-fact named in the durable power can perform a similar role for the assets still held in the person’s name.”

ABOUT FIDUCIARY TRUST AND THE AUTHORS:

Fiduciary Trust Company is a privately owned wealth management firm focused on families, individuals and nonprofits seeking objective advice to help grow and protect their investments. The firm also provides a range of services to professional financial advisors and single-family offices. Fiduciary’s capabilities include customized wealth planning, investment management, trust and estate services, and family office, tax and custody services.

Kate Granigan, MSW, is the Chief Executive Officer of LifeCare Advocates, an aging life care management firm focused on providing elder care advice and support to families. She serves on the board of the Massachusetts Guardianship Association and has over 20 years of experience as a social worker in the area of aging. Kate graduated from Boston College with a master's in social work, and has a Certificate in Applied Positive Psychology. Kate consults and speaks regularly on the topics of wellness and aging. 

Robert G. Holdway, Esq, is a Vice President and Trust Counsel at Fiduciary Trust. He advises clients on all aspects of estate planning and also provides financial planning advice. He has served as a Fiduciary Trust Director since 1998 and is an adjunct professor at Bentley University, teaching in the Master of Science in Financial Planning program. Bob has been named a Leader in the Law by Massachusetts Lawyers Weekly and earned an AB from Rutgers College, an MS from the Wharton School, University of Pennsylvania, and a JD from Boston University School of Law.

Jody R. King, Esq, CPA, is Vice President and Director of Financial Planning at Fiduciary Trust, responsible for the firm’s financial planning activities. Jody is licensed as a Certified Public Accountant in Massachusetts, an Accredited Estate Planner®, a Registered Life Planner® and a Certified Divorce Financial Analyst®. She has been recognized as a Five Star Financial Services Professional in Boston magazine. She earned a BA from Doane University and a JD from New England Law, Boston.