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EWM INSIGHTS Advanced Planning Series with James Bergeron, J.D.

In this latest episode of Insights, host Paul Ellis sits down with Jim Bergeron from Nuveen to discuss the complexities of elder and parental care, a pressing issue for many families today.

This "Managing Up" conversation highlights the critical role of proactive, empowering planning that encompasses not only logistical and financial considerations but also the emotional and interpersonal dynamics influencing elder care.

With summer gatherings approaching, it’s the perfect opportunity to discuss the needs and wishes of aging parents and relatives.

The episode emphasizes the importance of open communication. Paul and Jim highlight that while discussing elder care wishes can be challenging, it is crucial for ensuring family members receive the care they desire. They suggest fostering a relaxed atmosphere for these conversations, even recommending games like The Ungame to help navigate sensitive topics, thereby transforming a potentially daunting subject into an opportunity for connection and understanding.

The hosts also stress the importance of legal and financial planning, including updating wills and establishing powers of attorney, to honor the wishes of aging family members and prepare for unexpected situations.

As they explore various housing options, they emphasize the need to understand individual preferences and research alternatives, such as in-home care. Ultimately, the episode encourages families to view these conversations as opportunities to strengthen their relationships and create a legacy of love and dignity.

Takeaways:

• The sandwich generation faces unique challenges as they care for both their children and aging parents, necessitating thoughtful planning and communication.
• Open and honest communication with family members regarding their wishes and needs is crucial to effective elder care.
• Proactive planning involves understanding and documenting the healthcare preferences and safety concerns of elderly family members.
• Utilizing everyday family gatherings as opportunities to discuss sensitive topics can foster a supportive environment for necessary conversations.
• Incorporating technology and safety measures into the living environment can significantly enhance the well-being of elderly family members.
• Creating a comprehensive plan that includes legal documents, financial considerations, and personal wishes is essential for effective management of aging relatives.

Additional Notes and resources have been attached below.

Feel welcome to share this episode with those in your circle who are on a similar path of learning.

We hope our conversations will help you acquire more knowledge, become even more curious about the gifts that are in and all around us, while supporting you to reach new heights as we grow together.

You can subscribe and listen to EWM INSIGHTS on Spotify, Apple Podcasts, Amazon Music, or the Ellis Wealth Management Homepage: https://elliswealthmanagement.net/podcasts/

Above all, through EWM INSIGHTS we want to encourage you to:

INVEST IN WHAT YOU LOVE!®

Resources:

The Ungame: https://www.creativetherapystore.com/products/ungame-board-game

Additional Resources:

• The Entertainers Checklist, Estate Guidelines and Considerations - EWM - The Entertainers Checklist, Estate Guidelines and Considerations A Value Based Resource Journal compliments of Ellis Wealth Management, LLC.
• The Next Generation of Wealth Transfer - An Action Plan for Passing On What Matters Most -Nuveen
• 10 Family Wealth Compass Questions - Journal.pdf - 10 Family Wealth Compass Questions - Journal
• Nuveen Family Wealth Education Curriculum.pdf

Family Wealth Series 10 Questions Journal

The Entertainers Checklist

The Next Generation of Wealth Transfer Workbook

Nuveen, Family Wealth Education Curriculum

Companies mentioned in this episode:

• Ellis Wealth Management:
• 425-405-7720
• [email protected]

• Nuveen