Information to Help You or a Loved One Age Successfully
Our second annual Navigating Aging Transitions Lunch and Learn series launched this month on February 18th at Hills Bank and Trust in Marion! I sponsor this series along with Abbe Health Aging Services, Summit Pointe Senior Living, and Hills Bank.
Every other month starting in February a different topic related to aging and caregiving is explored so we assembled a panel of professionals to answer questions and discuss how to start conversations with our loved ones when additional care is needed. I invited Marcie Durian of LivWell Seniors and Mary Jo Beebe of Collins Community Credit Union to join me and Jo Ellen Haddad, who works for Aging Services, to serve on the panel.
After each of us shared a bit about ourselves and our roles in helping seniors we opened it up to questions from the audience. One woman talked about caring for her parents and how she has noticed some cognitive changes, maybe early dementia, with them. She was concerned how they seem to be making poor financial decisions and wanted some advice on how to address it. Mary Jo explained how the bank can place “red flags” on certain accounts to alert someone of unusual transactions or withdrawals of large sums of money. She continued by saying it is a good idea to identify a financial power of attorney who can make sensible financial decisions when the primary account holder, usually a loved one like an aging parent, is not able to or is no longer of sound mind. I worked with a family whose mother, who had Alzheimer’s, liked to go to the bank several times a week and take out money which was not going to be sustainable for the long term. One of her daughters explained this situation to her mother’s bankers and whenever her mom tried to withdraw money the bank would prevent her from doing it and also alert the daughter to the attempted withdrawal. Our caregivers also spent time with her mom and took her out when she could no longer drive. They were able to redirect her when she requested to go to the bank. It takes a village to keep our seniors with Alzheimer’s safe and out of financial trouble!
Join us for the next lunch and learn in April when we have a guest speaker talking about establishing financial powers of attorney as well as other legal documents that are important to have as we age.
- Stephanie Humphries, Owner, Right at Home Cedar Rapids