Financial Planning and Parkinson’s Disease
Caring for a family member with Parkinson’s requires a thoughtful financial plan. You may have to make decisions that will:
Reduce investment risk
Maximize the value from insurance policies (if it is not too late to qualify).
Common Financial Considerations when Dealing with Parkinson’s
Estate planning decisions may need to be accelerated.
You may need to become well versed in Medicare, long-term care options and costs, and income and estate taxes strategies.
All these decisions are best made in the context of an overall care plan, and it is important to include the ailing individual in the decision-making process as much as possible. If you are a caregiver, you may be overwhelmed and tired, which can make decision-making difficult.
Managing Parkinson’s can require the full resources of the family. Adding to the complexity, cognitive decline can be an issue. It can be difficult to know exactly how much decline has occurred and whether the decline is due to illness, medication, or other factors.
How Timberchase Financial Can Help Families Living With Parkinson’s
We work with families who are going through Parkinson’s Disease and who need a thoughtful approach to their financial plan. Gaining control of your resources can provide a level of confidence that allows you and your family to manage Parkinson’s with less financial stress.
Read the Barron’s article about Parkinson’s Disease in Bryan’s family: “The Harsh Reality of Planning for Clients With Parkinson’s.”
If you would like to start a conversation about how our CERTIFIED FINANCIAL PLANNER™ professionals may be able to help, please call Bryan Hancock at 205-980-7118, or Contact Us.
Further Reading
As you navigate the complexities of financial planning for Parkinson’s Disease, you may find the following articles helpful: