A new mortgage product is making "reverse" mortgages more affordable. Reverse mortgages typically have high fees, but the new Home Equity Conversion Mortgage (HECM) Saver allows borrowers to get a reverse mortgage with lower upfront costs as long as they are willing to borrow a smaller amount. A reverse mortgage allows homeowners who are at least 62 years old to borrow money on their houses. The homeowner receives a sum of money from the lender, usually a bank, based largely on the value of the home, the age of the borrower, and current interest rates. The loans do not have…
Sleep problems are often dismissed by caregivers for two common, misguided reasons, says geriatric psychiatrist Ken Robbins. First, they assume that poor sleep is part of aging or of dementia, and that nothing can be done about it. Second, they fear that addressing sleep problems is “selfish,” only for their benefit. The senior whose sleep issues are addressed will experience better mood, more energy, and less pain; sleep is closely connected with all three conditions. And the caregiver who makes his or her own sleep a priority will be better able to cope with caregiving stresses and will have more…
If you caregiving for an aging parent,or loved one, we are often asked, when do I need help? Here are some indicators that you may need help: Personal Care for the Dementia Patient – bathing; grooming etc. becomes problematic; Dealing with Aggressive Behaviors; they’re being Physical or have Overwhelming Issues; Halucinating etc. Caregiving From a Distance; Financial – Do we have enough assets? Asset Protection; How can we Afford the Nursing Home? When Caring Takes Its Toll on YOU – You are yelling and screaming; burnt out; angry; frustrated; Depressed – not sleeping; feeling sad; guilt; discouraged; Moving an aging…
Discussing the subject requires patience and tact. However, you may consider the following approaches with your parents to achieve greater success for hiring a caregiver rather than having them move to an assisted living facility or nursing home: they can remain at home; in-home care is often less costly; they will be given one-on-one attention when their caregiver is there; they can maintain their independence in their own home; accept the care for the sake of their spouse, even if in reality, it is equally beneficial for them both; explain to your parent how much you worry about them. According…
There are nearly 10 million boomers raising kids while at the same time caring for at least one aging parent, according to the Pew Research Center. However, what is not discussed or written about, are effective strategies and techniques to care for your parents. You were raised and cared for, by your parents. However, now you are providing care for them. This role reversal role reversal can be problematic, and have consequences that you, your family, and your parents, are not prepared for. Also, it's hard to argue with a parent who you've been parented by them all of your…
Your biggest concern, are they safe and making smart decisions before driving. Your parents have independence through driving, and it is problematic to remove this. However, they will have changes in their vision or hearing. Therefore, their safety is of the utmost importance. So here are some key driving tips. Make Sure They Regularly Have Their Vision and Hearing Checked In Maryland, seniors do not have to take regular driving tests to continue to have a driver’s license. Therefore, it’s important that regular hearing and eye checks are performed. If their hearing and/or vision deteriorates, this creates a slower response…
Caring for elderly parents can become a family affair. Oftentimes family members question whether parents can “legally” pay for the help they receive from relatives. The short answer is yes, but you’ll need to make sure you follow some important guidelines. OurParents.com recently published an article for handy reference; here are their points on how an elder can pay a relative for care services at home. Gifts. Yes, parents can make gifts to a relative out of appreciation for care and assistance. But be careful. If your parent eventually needs Medicaid to help pay for long-term nursing care, any gifts…
When your parents need assistance with activities of daily living, who cannot live alone due to health problems, disability, or lack of home care services and support, Senior Life Care Planning is there to assess the situation, develop a life care plan which will take into account your parent's needs and goals, financial security, living arrangements, make them feel independent and dignified, and we also provide guidance, assistance and support.
Most people regard elder abuse as physical harm i.e abused in nursing home etc. However, financial elder abuse is the exploitation of seniors to gain access to their property, investments, cash, or real estate. Elder abuse includes identity theft, telemarketing cons, stealing Social Security checks from outdoor mailboxes, and fraud by unscrupulous contractors and financial advisers. However, it is not only the stranger but family members also are involved. Here are some signs of exploitation: Your parent has a new "best friend," becomes socially isolated, hesitant to contact unless the “best friend” is present. Unpaid bills – although someone…
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