What Every Adult Child Should Know: Financial Information and Related Documents for Family Caregivers

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What Every Adult Child Should KnowFinancial
Information and Related Documents for Family
Caregivers
Edie Felts-Podoll and Clif Barber UW Cooperative
Extension Family Living Programs PATHWAYS TO
FINANCIAL SUCCESS CONFERENCE Wisconsin Dells, WI
June 16-17, 2011
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Outline

• Population aging and impacts on families
• UW Extension response Curricula designed to help
  family caregivers
• Brief History and Overview of Curriculum What
  Every Adult Child Should Know (WEACSK)
• Teaching example (from Adams County)
• Tips and Resources

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The Age Wave
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Population Aging in The United States
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Increase in Percentage and Number of Persons in
the U.S. Age 65
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Percentage of Americans Age 65 Expected to
Survive to Age 90
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Population Aging in WisconsinPercentage of
Persons Age 65 by County 2010-2035
Wisconsins Age Wave









See Packet Handout
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How Will Population Aging Impact Wisconsin
Families?
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Impact Increase in Family Caregiving

• Based on a 2009 national survey, it is estimated
  that 43.5 million people in the U. S. currently
  provide some level of care for an adult age 50 or
  older. Two-thirds of these caregivers are female,
  and three-quarters are White (National Alliance
  for Caregiving and AARP, 2009).
• The number of families involved in caregiving
  will increase as the Baby Boom generation ages.

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Educational and Informational Needs of Family
Caregivers

• In a 2009 national caregiving survey, nearly
  eight in ten caregivers wanted more information
  on such topics communicating more effectively
  with the care recipient and other family members,
  balancing work and eldercare, and managing legal
  and financial issues (National Alliance for
  Caregiving and AARP, 2009).

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UW Extension Family Living Programs
Helping Families With Caregiving
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Curricula Designed to Help Family Caregivers

• Powerful Tools for Caregivers
• Adult Children and Aging Parents Conversations
  Between Generations
• Caregiving Relationships
• Protecting Your Retirement and Other Financial
  Information What Every Adult Child Should Know
• Who Gets Grandmas Yellow Pie Plate?

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FYI Public Websitehttp//fyi.uwex.edu/familycareg
ivereducation/
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What Every Adult Child Should Know

• The goal of this program is to help caregivers
  protect their assets and prepare for retirement
  while providing care. The information will also
  assist with financial discussions that might take
  place as families make important decisions about
  the care receivers future.

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History

• Developed by Celia Ray Hayhoe, Ph.D., CFP,
  Virginia Cooperative Extension
• Funding provided by the National Endowment for
  Financial Education

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Organization of Program Manual

• Chapter 1 deals with understanding where you and
  the care receiver stand financially and what
  resources are available to pay for care.
• Chapter 2 outlines why it is essential to plan
  ahead by having in place all the legal documents
  a care receiver needs.
• Chapter 3 summarizes the financial decisions
  family caregivers need to consider.

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Manual Content (continued)

• Chapter 4 discusses the types of care available
  and the programs that cover the cost of different
  types of care.
• Chapter 5 deals with how you can pay for care
  using long-term care insurance, Veterans
  benefits, Medicare, Medigap insurance, and
  Medicaid.
• Chapter 6 explains communication techniques
  families can use when discussing these difficult
  issues.

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Video

• Contains vignettes of communication challenges
  that typically come up when dealing with
  caregiving issues as well as techniques for
  discussing these issues among a family. Scenes
  offer examples of talking about caregiving issues
  with the family or appropriate third parties,
  such as a financial planner, attorney, or case
  worker who can help conversations remain
  objective and less emotional.

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CD-ROM

• Has a PDF version of the binder, but is designed
  for use by groups or individuals with computer
  access. In addition to toe PDF of the binder, it
  contains a leaders guide, PowerPoint slides for
  each chapter, and an evaluation sheet. It also
  contains worksheets that can be customized to the
  needs of each particular group. If individuals
  want to use a computer to complete the forms, the
  CD-ROM contains interactive forms in Microsoft
  Word and Excel formats.

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FYI Websitehttp//fyi.uwex.edu/familycaregiveredu
cation/what-every-child-should-know/
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FYI Website Resources

• Program Overview. Overview of program materials,
  including the chapter organization of the manual
  and accompanying media materials.
• Wisconsin Versions of Selected Forms. Sections
  amended for use in Wisconsin by UWExtension.
• For Class Leaders. This page contains a packet of
  sample teaching materials prepared by Edie
  FeltS-Podoll. Packet includes an example of a
  teaching outline, a worksheet designed to engage
  participants in the need for planning, Powerpoint
  slides, a story of an average rural family (to
  promote discussion), a publicity flyer, a sample
  news release, and HCE/Community Leader's Planning
  Guide, and an evaluation form.

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Wisconsin Versions of Forms and Documents
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Educational UseTeaching example from Adams
County

• Video segment 2 and Discussion
• Worksheet What You Want Your Family to Know
• Story of an average rural family (George and
  Deana)
• Choosing document examples
• Lasting impression (Video segment 1 no one
  wants this to happen in their family)

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Worksheet
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Story of an Average Rural Family George Deana
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How To Formulate a Process to Distribute Program
Materials

• HCE Leaders Planning Guide
• News release
• Poster

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Playing with the acronym What Every Adult Child
Should Ask
WEACSK We All Should ASK
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Wisconsin-ized Documents and Forms

• The documents and forms printed on yellow paper
  (in the 3-ring binders) have been amended for use
  in Wisconsin. They can be inserted into the
  program manual at the pages indicated on the FYI
  website.

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For/Name __________________________ Care
Receiver _______ Caregiver _______ Date
______________
Date Reviewed By Whom Updated (v ) Remain the Same (v )




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