Client Case Studies

 

Margaret Jones, 72, a widow, living on her own with a new diagnosis of Parkinson’s, wanted to create a long term financial plan for her own needs that would also ensure a legacy for her adult children.

Margaret lived alone in her own home that had been mortgage free for many years.  Her daughter, Joyce and her son, Paul, each had two children of their own.

Margaret was aware of the progressive nature of Parkinson’s and feared she would ultimately require costly care in a Nursing Home.  She wanted to protect her home and hard earned assets** for her children.  She wanted to discuss all options with knowledgeable professionals and make informed decisions.

Margaret and her children met with Senior Resource Center’s team of experts.

Benefits to Margaret and her children:

A relationship was established with our Registered Nurse case manager to address their many questions regarding health care options and services.

Elder law attorneys’* drafted the necessary legal documents to ensure:

• Guardianship would be avoided, if Margaret became incapacitated.
• Her home and hard earned assets would be protected in the eventshe needed care in a nursing home.
• Probate would be avoided upon her passing.

Our certified financial planners** ensured future care cost would be met by optimizing her care dollars, accessing benefit programs, and preserving assets to support her legacy goals.

Barbara Smith, 52 year old, married, mother of 2 children, 2 elder parents.

Barbara’s father, George, was in good health and her mother, Elaine, suffered a debilitating stroke and caring for her at home was no longer an option.

Elaine needed urgent care provided in a nursing home upon hospital discharge. George wanted to stay living in their family home. Barbara knew the situation had changed dramatically for her parents, but was not sure what to do.

Benefits to Barbara and her parents:

• All legal documents were in place for future needs pertaining to financial and care decisions.
• Ensured George could stay in his home safely by accessing benefit programs.
• Ensured Elaine’s placement in a high quality nursing home with costs covered by Medicaid.
• Reviewed 5 years of financial needs, completed the Medicaid application and obtained Medicaid approval for Elaine’s care costs in the nursing home.
• Protected $100,000 in liquid assets rather than “spending it down” as advised by the Nursing Home.
• Protected the family home to ensure legacy goals were achieved.
• Created a life time relationship with our experts, for continued advice and support, at no additional charge.

Sara Green, a divorced mother of 3 teenage children. Her father is deceased and her mother, Mary, lives alone.

Sara’s mother was living alone in her own home but she could no longer care for herself. Mary had been diagnosed with Alzheimer’s Disease. The doctor recommended nursing home placement. Sara was overwhelmed and didn’t want her mother in a nursing home.

• Mary needed to be placed where she could receive specialized full time care, which is costly
• Mary had assets that needed to be protected
• Sara needed some relief. She had been caring for her mom, raising her children, and working full time

Benefits for Sara and her Mother, Mary:

• Ensured Mary’s placement in a high quality, specialized assisted living facility
• Sara was relieved of the burden of caring for her mother by herself
• She could focus on her children and her job, and spend quality time with her mother
• Mary’s assets were not depleted to pay for her care due to the dollars provided by the Veterans Aid and Attendance Pension, Mary received $12,000.00 per year from the pension
• Mary was able to place $200,000 in an Asset Protection Trust
• Her children will receive an inheritance, which is her wish