Planning Independently: Taking Care of Yourselves in Old Age without Children
As we age, the prospect of neglect or being cared for in a nursing home can be a daunting thought for many childless seniors. However, with careful planning, one can ensure that their dignity and independence are preserved even in later years. In this article, we explore strategies and personal stories of taking care of oneself without relying on children or future uncertain circumstances.
Planning for Independence: A Personal Journey
For me, a 72-year-old senior without children, the thought of my old age has always been a topic of reflection. The idea of being taken care of by a nursing home or having bills from such a facility is something I don't want to accept. Hence, I have meticulously planned my future to ensure that my estate is not wasted away and that I remain in control of my life.
The concept of Skirnismal, a Norse poem, holds wisdom that resonates with my perspective. It states that it is braver and more fortunate to accept one's fate than to cling to a life that may deteriorate into one fraught with dependency. This philosophy drives my decisions to plan ahead, ensuring that my future is under my control.
Financial and Legal Planning
Currently, I manage my daily life independently, handling tasks such as house taxes, shopping, and all other usual responsibilities. My financial advisor, a trusted individual, manages my long-term investments. While I know how to manage short-term cash flow, I leave the long-term planning to professionals to ensure my financial stability.
Should I no longer be able to manage a house, my trust in a local professional would be invaluable. He specializes in assisting people with the transition into independent living facilities. This professional has the necessary knowledge to navigate the complex paperwork and processes involved in such transitions. He understands the intricacies of various facilities in Los Angeles County, ensuring that I am made comfortable wherever I eventually end up.
End of the Road: Donation and Assisted Living
As part of my planning, I have also planned to donate most of my belongings. Independent living apartments often have limited space, and without assistance, there may be no need to move from a condo to what would be a similar arrangement. However, if I were to need more assistance, my trusted advisor would also help with the transition to assisted living.
Assisted living facilities provide support where needed, ensuring that my affairs are managed if I am no longer capable. A second power of attorney would allow this trusted advisor to assist in moving me to final care when and if that day comes. The law firm that holds my will would only be involved in the disposition of my estate, while the advisor would focus on my care.
In the scenario where the trusted advisor is unable to continue, or decides not to, alternative arrangements would need to be made. However, these steps would only be necessary once the need arises.
Conclusion
The fear of aging alone without children is understandable. However, with thorough planning, trust, and support, one can ensure that their old age is filled with dignity and independence. Personal experiences and strategic planning demonstrate that it is possible to avoid the uncertainty of nursing homes and ensure your estate is managed with care and respect.