Eldercare Financial Planners (EFPs) can help any family, even those in seemingly impossible situations; develop an affordable financial plan so their loved one receives the care they need. EFP perform the following:
Eldercare Financial Planners in Your Area
Eldercare Financial Consultants have the same qualifications as Eldercare Financial Planners but offer a different service. Rather than develop a financial plan for the family, they educate the family on how to develop a plan themselves. By working with a consultant for a short engagement and taking on the planning responsibility themselves, families can save thousands of dollars and avoid or limit the amount of expensive elder law attorney time required. Not all Financial Planners will offer consulting.
Typically an EFP will offer a free initial consultation in which they’ll ask questions about the senior’s health, financial assets and personal and family history. Based on that interview, they able to determine the time and cost necessary to create the plan. Once agreed upon, they’ll conduct a more in-depth interview, review financial documents and finally present the plan to the family and make any necessary modifications.
Also Known As
Eldercare Financial Planners are referred to by many names according to their professional backgrounds, most commonly are estate planners and financial advisors. Some Geriatric Care Managers also provide financial planning.
Costs of Eldercare Financial Planners
Eldercare Financial Planners are private pay and the cost to develop a plan varies widely. A professional plan put together by a certified Financial Advisor can cost several thousand dollars. Persons knowledgeable, but not certified, typically provide the same service for 20-40% less. Geriatric care managers may include financial planning as part of their larger care management offering. Finally monthly subscription services are available for around $25 / mo., which provide email and phone access to certified financial professionals for questions but they do not develop a comprehensive plan.
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