Page 34 - Money - November 2018

THE
ULTIMATE
RETIREMENT
GUIDE
2018
SOLO bedroom house in the suburbs into a big ADVANCE DIRECTIVE
SENIORS FORMS BY STATE (FREE)
apartment building in uptown Dallas. She’s 033/-2+ Use these forms to
organizing events for residents of her *36;%6( designate someone
building, many of whom are retirees, with an 7303 to make financial and
eventual goal of creating a buddy system %+-2+ medical decisions for
you in the future, if you’re
where folks can bring food to sick people and 6)7396')7 no longer able to make
otherwise help one another out. The Elder them yourself.
Orphans Facebook group has also formed MYDIRECTIVES.COM
local meet-ups, and members get together in This website offers
consumers a free way to
real life for lunch and other activities. create what the company
Looking for opportunities to connect in calls a “Universal Ad-
your community is key. Whether it’s a weekly vance Digital Directive”—
essentially, a cloud-based
worship service, a bridge game at a senior living will, health care
center, or volunteering at a soup kitchen, find proxy, and organ-donor
form that is legal in all
an activity you like and show up regularly so
people will notice when you’re not there.
Wilbur Repp, an 84-year-old widower in
Renton, Wash., meets for breakfast six days
a week with a group of former teachers and
policemen. “It gives us something to look orphans. She likes to see them for a visit
forward to in the morning,” he says. If he once every six months to a year to see if
doesn’t show up, members will call him to anything in their situation has changed.
make sure everything’s all right. Hourly rates for geriatric care managers
Also, help community members before range widely, from about $80 an hour up
you require help yourself. “One 89-year-old to around $350 in higher-cost areas of
may drive and another may not,” says Edwin the country.
L. Gaskin, a financial planner and founder Laney says many of her clients haven’t
of Your Financial Architects, a financial considered drawing up a health care power of
advisory firm in Elkridge, Md. “It’s really attorney, which is used to name someone to
important to establish those relationships make medical decisions on their behalf if
before you need them,” he says. they’re no longer able to do so. Every person
age 18 and over should appoint a health care
7))/ 7%*)+9%6(7 agent, also known as a proxy, but it’s espe-
ISA LANEY, an aging life care cially important for people who don’t have
0 professional in Asheville, N.C., family to accompany them to the hospital.
has a “just in case” drawer in
You also need a living will, a document that
her desk. It’s filled with the files outlines what type of medical interventions
of potential future clients—older adults who you might want or reject, such as help with
are managing fine now but who contacted breathing if you can no longer breathe on
her anticipating that they might need help in your own. Many states bundle the proxy
the future. Her services include helping older designation and the living will on one form.
people navigate the medical system, accom- For her part, Marak has named her two
panying them to doctor’s appointments, and older sisters as agents in her health care
arranging for in-home care. Laney, who has a power of attorney. She knows she might have
master’s degree in social work, can also help to change that in the future if they become
with nonmedical tasks, such as screening unwell themselves, but she feels secure for
handymen to do work around clients’ houses. now. Since one sister is 6 years older and the
She estimates that about 80% of the other is nearly 10 years older, Marak isn’t
folks in her “just in case” drawer are elder counting on them for hands-on assistance in

MONE Y. C O M NO VEMBER 2 018