the seven steps · clients who have diminished mental capacity. ... 84% of financial advisors want...
TRANSCRIPT
THE SEVEN STEPS
Presented by:Robert B. Mauterstock, CFP® CLU ChFC
PROTECT YOURSELF, YOUR PRACTICE AND YOUR CLIENTS WHO HAVE DIMINISHED MENTAL CAPACITY
We are unprepared for what’s coming…
We are all living longer
We are all living longerThe fastest growing segment is
85+
We are all living longerThe fastest growing segment is
85+
46% over 85yrs will
develop dementia
We are all living longerThe fastest growing segment is
85+
46% over 85yrs will
develop dementia10 million boomers will
contract Alzheimer’s
84% of financial advisors
want help with the impact of Alzheimer’s
on their practices
Fidelity Investments Study, 2011
Have you ever had a client with diminished mental capacity?
THE SEVEN STEPS
PROTECT YOURSELF, YOUR PRACTICE AND YOUR CLIENTS WHO HAVE DIMINISHED MENTAL CAPACITY
THE SEVEN STEPSSTEP ONE RECOGNIZE BEHAVIOR PATTERNS
THE SEVEN STEPSSTEP ONE RECOGNIZE BEHAVIOR PATTERNS
1 Missed office appointments
2 Confusion about instructions
3 Frequent calls to the office
4 Repetitive speech and or questions
5 Missed paying bills
6 Difficulty following directions
7 Trouble with handling paperwork
8 Difficulty recalling past decisions or actions
THE SEVEN STEPSSTEP ONE RECOGNIZE BEHAVIOR PATTERNS
Ruth Mauterstock, 94 years old
THE SEVEN STEPSSTEP TWO DEVELOP A DIMINISHED CAPACITY PROTOCOL
THE SEVEN STEPSSTEP TWO DEVELOP A DIMINISHED CAPACITY CHECKLIST
RECOGNIZE
REPORT
REVIEW
DOCUMENT
MEETINGS
DECISION
THE SEVEN STEPSSTEP THREE LEARN HOW TO PROTECT YOUR CLIENT’S ASSETS
THE SEVEN STEPSSTEP THREE LEARN HOW TO PROTECT YOUR CLIENT’S ASSETS
MEDICARE MEDICAIDVETERAN’S BENEFITS
LONG-TERM CARE INSURANCE
THE SEVEN STEPSSTEP FOUR BUILD A NETWORK OF PROFESSIONALS
THE SEVEN STEPSSTEP FOUR BUILD A NETWORK OF PROFESSIONALS
FINANCIAL
ADVISOR
ELDER LAW ATTORNEY
GERIATRIC CARE MANAGER
HOME CARE PROVIDER
MEDICAL PROFESSIONALS
INSURANCE AGENTS
SENIOR REAL ESTATE
PROFESSIONAL
ESTATE SALE SPECIALIST
THE SEVEN STEPSSTEP FIVE BUILD A RELATIONSHIP WITH THE FAMILY
THE SEVEN STEPSSTEP FIVE BUILD A RELATIONSHIP WITH THE FAMILY
THE SEVEN STEPSSTEP FIVE BUILD A RELATIONSHIP WITH THE FAMILY
PLAN A FAMILY MEETING
THE SEVEN STEPSSTEP FIVE BUILD A RELATIONSHIP WITH THE FAMILY
IDENTIFY THE ALPHA CHILD
THE SEVEN STEPSSTEP FIVE BUILD A RELATIONSHIP WITH THE FAMILY
VOLUNTEER TO FACILITATE
THE SEVEN STEPSSTEP FIVE BUILD A RELATIONSHIP WITH THE FAMILY
LEGACY
THE SEVEN STEPSSTEP FIVE BUILD A RELATIONSHIP WITH THE FAMILY
LEGAL
THE SEVEN STEPSSTEP FIVE BUILD A RELATIONSHIP WITH THE FAMILY
HEALTHCARE
THE SEVEN STEPSSTEP FIVE BUILD A RELATIONSHIP WITH THE FAMILY
FINANCES
THE SEVEN STEPSSTEP FIVE BUILD A RELATIONSHIP WITH THE FAMILY
FREE COPY
Familymeetingchecklist.com
THE SEVEN STEPSSTEP FIVE BUILD A RELATIONSHIP WITH THE FAMILY
End of Life Planning
THE SEVEN STEPSSTEP SIX UTILIZE A SINGLE SOURCE RECORD KEEPING DOCUMENT
THE SEVEN STEPSSTEP SIX UTILIZE A SINGLE SOURCE RECORD KEEPING DOCUMENT
THE LIFE FOLIO
THE SEVEN STEPSSTEP SIX UTILIZE A SINGLE SOURCE RECORD KEEPING DOCUMENT
EVERPLANS
THE SEVEN STEPSSTEP SIX UTILIZE A SINGLE SOURCE RECORD KEEPING DOCUMENT
EVERPLANS
THE SEVEN STEPSSTEP SEVEN CREATE AN INVESTMENT POLICY STATEMENT
THE SEVEN STEPSSTEP SEVEN CREATE AN INVESTMENT POLICY STATEMENT
Are your clients targets for elder abuse?
Questions and Answers
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