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- 1. PEACE OF MIND Russ Sweeney Elder Care Family Advisory Services 821 Dix Street Manchester, NH 03103 603-205-5694
- 2. There may come a time….. • When the child becomes the parent • Additional responsibilities can be challenging : ▫Your own family and job responsibilities ▫Limited time ▫Distance and geography ▫Learning curve ▫Government agencies and Red Tape
- 3. Potential Problems • Missed bill payments • Termination of Services • Loss of Benefits • Victimization
- 4. Qualifications • Practicing Corporate Accountant for over 20 years • 17- years hands-on experience handling: ▫ Dementia, Stroke and other age-related illnesses ▫ Financial Needs ▫ Elder Care Red Tape • Fully bonded for your protection
- 5. Assessment and Planning • Meet with all concerned parties to assess needs • Develop a customized plan together for managing your loved one’s finances • Begin agreed upon program • Assist in identifying additional services and/or professional needs
- 6. Routine Services • Bill payment and mail screening • Monthly bank reconciliation • Record Organization and Reporting • Medicare and Medicaid Counseling • Seamless coordination with: ▫legal representatives ▫Federal, State & Local agencies ▫Healthcare professionals
- 7. Bill Payment: Two Approaches • Authorized Payment ▫ Funds deposited to separate account ▫ Bills reviewed, checks prepared. Elder Care Family Advisory Services authorized to pay bills • Payment requiring family member signature ▫ Review bills and prepare checks ▫ Submit checks for your signature
- 8. Status Reporting • Monthly summary of all bills paid • Reconciliation of bank and other financial statements • Copies of all bills paid • Alerts of any issues needing immediate attention
- 9. Fraud Prevention • Mail screening • On line monitoring of bank statements, charge cards and cash withdrawals • Review of all bills for reasonableness • Monitor for changes in expenditure patterns
- 10. Medicare & Medicaid Counseling • Review Medicare/Medicaid eligibility requirements • Prepare Medicaid application for nursing home eligibility
- 11. Record Keeping & Tax Preparation • Identify and monitor tax deferred withdrawals and expenses to minimize tax liability • Organize all records to support the tax returns • Prepare State and Federal tax returns
- 12. PEACE OF MIND Russ Sweeney Elder Care Family Advisory Services 21 Kessler Farm Drive #379 Nashua, NH 03063 603-205-5694