Millions of aging Americans are challenged to prepare for uncertain health and financial setbacks in addition to cognitive impairment that impacts one-third of adults over age 85. Advanced planning can reduce the negative impact of impairment on personal finances, including financial exploitation, scams and fraud, and care and spending decisions that are not aligned with retirement goals.
One of the smartest ways to prepare for changes in financial decision-making capacity is to talk with a trusted friend or family member about financial needs and wishes for the future, and to appoint a power of attorney in the event that oversight and support is needed. To motivate and guide aging adults to begin this important planning process and start meaningful conversations about money and future care, we developed the Thinking Ahead Roadmap. The content and design was informed by two years of research conducted at the University of Minnesota.
Presenters: Marti DeLiema, PhD – Assistant Research Professor, University of Minnesota, Twin Cities
Naomi Karp, Esq.