Saving Time And Money:
Choosing Elder Care Professionals

America's population is aging at a rapid rate. The U.S. Census Bureau predicts that by 2020, one third of the U.S. population will be over 50. Older Americans and their families may require professional advice on financial and legal affairs, as well as guidance in how to best meet their changing needs.

Elder law attorneys, financial planners, and geriatric care managers can provide some of this important assistance. This brochure is designed to give you basic information about the type of assistance each kind of professional can provide. 

Elder Law Attorneys

Elder law attorneys are lawyers that specialize in areas of the law that impact seniors. These types of attorneys have expertise in: tax planning, disability planning, Medicaid, Medicare and Social Security law, estate and trust planning, housing issues, guardianship planning, advance medical directives, and wills. Not every elder law attorney specializes in all of these areas.  To find an elder law attorney, check your local telephone directory for the number of the Bar Association in your area, which can provide referrals to local attorneys.  The National Academy of Elder Law Attorneys provides information on attorneys who are members of the Academy: 1604 N. Country Club Road, Tucson AZ 85716-3102, 520-881-4005, http://www.naela.org/

If you already have an attorney specializing in another area of law, ask for a referral to an elder law attorney.

Financial Planners

A professional financial planner can assist you with asset management, financial planning and tax advice. For example, a financial planner can help you prepare a financial plan that anticipates future expenses such as long-term care. With your planner, you can determine if you should consider long-term care insurance. Such a professional can also consider tax issues and help guide you in the best ways to pass on your assets through estate and trust planning. 

There are many professionals who offer these types of services:

Certified Public Accountants (CPAs) - They can provide assistance in financial planning, including estate and trust planning, tax preparation and advice, as well as day-to-day issues such as bill paying and investment supervision.  Certified Financial Planners (CFPs) - They can help you create a financial plan to prepare for retirement and unanticipated expenses such as long-term care.  Chartered Financial Analysts (CFAs) - They provide investment advice and asset management services.  The following organizations can provide assistance in determining which type of professional you may need, and may provide referrals: 

Certified Financial Planner Board of Standards, 1700 Broadway, Suite 2100, Denver CO
80290, 888-CFP-MARK, http://www.cfp-board.org/ 

Institute of Certified Financial Planners, 3801 E. Florida Ave., Suite 708, Denver CO
80210-2544, 303-759-4900

Association for Investment Management and Research, P.O. Box 3668, 5 Boar's Head Lane, Charlottesville VA 22903-0668, 800-247-8132, 
http://www.aimr.org/

National Association of Insurance Commissioners, 120 W. 12th St., Suite 1100, Kansas City
MO 64105-1925, 816-842-3600, http://www.naic.org/    offers A Shopper's Guide to Long-Term Care
Insurance.

Geriatric Care Managers (GCMs)

GCMs are health care professionals who assist families in dealing with the problems and challenges associated with caring for the elderly. They have expertise in the aging process and in health care and social service systems for older individuals. They may be social workers or nurses, or have masters' degrees in gerontology or counseling.

GCMs conduct a comprehensive assessment of the senior's physical, functional and emotional state and the adequacy of current living arrangements. The GCM then identifies and arranges good local resources and can provide ongoing monitoring. This type of professional is particularly helpful when adult children live in communities far from aging relatives.  Your local Area Agency on Aging (AAA) can put you in touch with GCMs and publicly funded agencies providing these services. Call the Eldercare Locator at 800-677-1116 for the nearest Area Agency on Aging.

The National Association of Professional Geriatric Care Managers can provide referrals to members of its organization. 1604 N. Country Club Road, Tucson AZ 85716-3102, 520-881-8008. 

Checklist of Information and Key Documents   Having the proper information in hand will make your first meeting with a professional more effective. Following is a list of some of the information and key documents you may need: