On May 18th, The Family Firm hosted a panel discussion and dinner for clients looking for advice on caring for their aging parents. The event took place at The Bethesda Hyatt Regency and the panelists were: Linda Hill, a Clinical Social Worker specializing in Elder Care at Aging Network Services, Robin Mansfield, a Care Manager at Aging Network Services and Stacy Bakri, Financial Advisor at The Family Firm. Nate Gendelman, President of The Family Firm moderated the discussion.
The panel addressed a number of issues surrounding the care of seniors and what adult children can do to respectfully help their parents as their needs increase with aging.
One attendee asked the panel what are some of the warning signs that indicate that your parent may need more care beyond what a relative can provide? Linda recommended that adult children “Pay attention to your parents' appearance. Failure to keep up with daily routines such as bathing or tooth brushing, could indicate dementia, depression or physical impairments that may need to be treated by a professional”.
A participant asked what exactly care managers do and how do they help the parent and adult child. Linda noted that despite adult children’s best efforts, parents may resist the efforts of their children to help them. “This can be a substantial role reversal for parents and sometimes they are not comfortable with the notion that their children are now taking care of them” she said. Robin noted that the care manager can act as a buffer between the child and parent. “They can become a familiar and trusted visitor to the parent while also serving as an ally to the adult child, supporting their efforts to provide care for their parent”.
Some of the services that care managers provide:
- Serve as a medical liaison and participate in the parent’s doctor appointments and provide feedback to family members
- Interview and monitor home helpers
- Serve as an advocate for the parent in care facilities
- Assist with transitions from home, rehabilitation facilities and hospitals
A guest inquired what precautions or actions can financial advisors take when a client’s financial actions appear to be out of character and potentially harmful to the client. Stacy Bakri shared that The Family Firm offers clients the option to put in place an incapacity directive. “If we observe behavioral changes that appear to us to be seriously inconsistent with a client’s stated life goals, or that put their financial security at risk, the incapacity statement gives us the ability to reach out and discuss the issue with a family member or another trusted individual previously designated by the client” she said.
To learn more about the services that Bethesda based Aging Network Services provide, click here. To learn more about the comprehensive financial services provided by The Family Firm, click here.
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