Wealth and trust managers handle the financial future of their senior clients, but financial stability is deeply linked to health and lifestyle needs as people age. This is where geriatric care management steps in to add immense value. A geriatric care manager assesses a client’s overall health and lifestyle, ensuring that financial plans align with their evolving care needs. By keeping wealth managers informed of any changes in health, care managers help anticipate shifts in care expenses, allowing wealth managers to adjust budgets, set aside reserves, or plan for long-term care costs.
Geriatric care managers also help streamline communication between families and financial professionals. When there are multiple decision-makers or complex family dynamics, care managers can serve as a neutral third party, ensuring that the senior’s wishes are respected, reducing conflicts, and preventing costly legal battles or contested decisions. Additionally, care managers monitor any care plans in place, so wealth managers know that their client is receiving appropriate care without unnecessary spending.
This partnership ultimately helps preserve a client’s wealth by avoiding costly mistakes or oversights related to care, ensuring that financial strategies continue to support the client’s well-being. In sum, geriatric care management can make a wealth or trust manager’s role more comprehensive, providing peace of mind that the client’s health and financial future are both protected.
Key Benefits:
1. Keeps financial plans aligned with health needs.
2. Prevents family conflict and costly legal disputes.
3. Updates wealth managers on changes in client health.
4. Avoids unnecessary care expenses, preserving wealth.
5. Coordinates care to ensure financial strategies are well-supported.
