“‘Financial Caregiving’ Is Widespread and Expensive,” by Emily Zulz, ThinkAdvisor

“While many aspects of caregiving have been previously studied, financial caregiving remains largely unexamined. A Merrill Lynch study, conducted in partnership with Age Wave — “The Journey of Caregiving: Honor, Responsibility and Financial Complexity” — finds that 92% of caregivers say they are also financial caregivers, performing at least one aspect of financial caregiving during their caregiving journey. . . . In fact, according to the report, after two years of receiving care, 88% of care recipients are no longer managing their finances independently.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Unfortunately, financial caregiving too often morphs into Medicaid planning and/or financial abuse.

Financial Caregiving’ Is Widespread and Expensive

#caregiving
#goldencareagent