For years, Bill and Evelyn enjoyed a well-planned retirement, full of travel and adventure. But when Bill was diagnosed with Alzheimer’s, they needed a new plan to ensure their financial security through an uncertain future.
Bill and Evelyn, both in their seventies, had been our clients for years. We had worked with them to create a comprehensive financial plan. One of their goals was to have an active retirement that involved travel, and they had been enjoying this for several years. We would meet with them regularly to discuss what was happening in their lives and make any necessary adjustments to their financial plan.
At a recent check in, they let us know that Bill had been diagnosed with Alzheimer’s disease. He was in the very early stages, but they were concerned about how they were going to manage the expenses that would increase along with Bill’s care needs. With so many questions about what to expect, they wanted us to help them assess the potential costs of future medical care options. It was important to both of them that they actively continued to enjoy as much of their time as they could before his symptoms progressed. They needed our help in creating a plan that would account for several scenarios that might come about as his health changed.
It was impossible to predict exactly when he would need advanced care, and whether he would be able to stay in their home with assistance or require a skilled nursing facility, but we could help them to understand the costs. We adjusted their financial plan to ensure their resources would support both Bill’s future and their desired lifestyle for as long as possible. We also updated their estate planning documents to reflect their current circumstances and wishes.
