For Financial and Estate Planners
Capacity Assessment: We have a designated capacity assessor available.
‘A capacity assessor is someone who is qualified and designated to determine whether an individual is mentally incapable of certain types of decision-making as described in the Substitute Decisions Act. In some circumstances, the Substitute Decisions Act gives capacity assessors the exclusive authority to make such determinations.’ (Ontario Ministry of the Attorney General)
We provide professional services to:
Financial Institutions, Trust Companies and Financial Planners
We currently provide elder care expertise to several trust companies and financial institutions. This professional consultation is particularly beneficial for companies that hold a Power of Attorney for finances for their clients and require our expertise to ensure that their clients are doing well and that appropriate plans are in place. This is especially important for those individuals who do not have a Power of Attorney for Personal Care or one that is available. We assist in retirement planning from a health and wellness perspective. We help you help your client.
We can advise both the institution and the older client. Elder Caring Inc. has presented a number of seminars and lunch and learn sessions for both bank and trust officers, financial planners, and their respective clients.
If you have questions about long term care, assisted living or wanting to make sure your client is managing safely and well at home, please call us.
Barron’s Caring for Aging Parents, by: Stacy Perman, September 26, 2015
“Wealthy families are increasingly turning to their private bankers—skipping talks about college savings and financial returns—and anxiously asking, “How do we care for our elderly parents?” and, “How can we remain independent without becoming a burden to our children?” The reason for this is as simple as it is stark: For the first time in history, two generations of retirees are coexisting within a single family, as baby boomers retire while their elderly parents are still alive. The fastest growing age group in the country consists of those 85 and older, as 75 million Americans sail past age 60 in the next 20 to 30 years.” “While firms like U.S. Trust and Wells Fargo are taking the lead building formal eldercare services for clients, others will surely follow suit. Jamie McLaughlin, CEO of J.H. McLaughlin & Co., a management consultant to the wealth management industry, notes that private banks are in an “arms race” to provide wealthy clients “the deepest, most bespoke service” possible, with eldercare services high on their priority list. It is precisely that competition that will result in more choice of services, and provide clients with a slightly less tortured walk to the assisted-living center’s dining hall.”