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Specialty Areas - Elder Care
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Elko & Associates, Ltd. has developed an elder care services program aimed at allowing you or your loved one the ability to continue to manage assets and protect wealth, with an eye on sustaining the highest quality of life possible during these retirement years.
Areas of Specialization
Our elder care services team works to maximize the cohesiveness of each of the elements of your financial plan, from assisting you with daily financial transactions to planning for all of your healthcare needs. Our elder care services simplify your life, allowing you to live out your retirement with a high level of security and support. We build strong relationships with each of our elder care clients, ensuring that their personal needs are understood.
For our clients with loved ones in need of elder care, Elko & Associates, Ltd. can help to alleviate the burden of choosing the best providers of long-term care and assisted living services. In addition, we can help you determine the right plan of action to ensure your loved one's financial wellbeing is preserved. For those out of town or with little time to devote to supervising a loved one's situation, we can serve as your eyes and ears to formally monitor and evaluate the level of care administered.
Elko & Associates, Ltd.'s elder care professionals have the ability to provide expert assistance in the following areas:
Direct
Financial Services:
- Receive, deposit and account for client
receipts
- Ensure expected revenues are received
- Make appropriate disbursements
- Submit claims to insurance companies
- Confirm accuracy of provider bills and
appropriate reimbursements
- Protect the elderly by controlling
checkbook and other assets
- Provide income tax planning and return
preparation
- Prepare employment tax returns for
caregivers and other household help
Non-financial Consulting:
Family Facilitation
- Mediate/ arbitrate family disputes
- Provide objectivity for highly emotional issues
- Act as a "go-between" between parent and child
Coordination of support and
health care services
- Lead a team of healthcare, legal, and other professionals
Other consulting services
- Help family monitor care
- Establish standards of care expected
- Communicate expectations to care providers
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Financial Assurance Services:
- Review and report on financial transactions
- Review investments and trust activity
- Audit third-party calculations, such as pension, insurance and annuity payouts
- Review reports from fiduciaries
Financial Consulting:
Eldercare planning for:
- Housing and support service needs
- Declining competency
- Death or disability of one or both spouses
- Alternative costs of retirement communities and other housing
- Services available in the community
- Estate planning
Fiduciary planning for:
- Financial power of attorney
- Health care power of attorney
- Guardianship
- Trusteeship
- Living wills
- Advanced medical directives
Evaluation of health care
financing options for:
- Medicare and Medicaid
- Long Term Care insurance
- Medigap insurance
- HMO's
- Annuities
- Viatical insurance settlements
- Reverse mortgages
- Sale/ leaseback of home
- Flexible spending accounts
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