Eldercare Planning Services

At U.S. Trust, we are committed to addressing the wealth management needs of our clients and their families — as well as their extended families. We see our client relationships as family relationships, and this commitment to our clients and their families is embodied by our ElderCare Planning program, which offers comprehensive services for our clients, including those planning care for themselves as well as for those who will need to provide care for aging loved ones.


Have you thought about the cost of health care as you grow older? Have you considered the various types of living and long-term care arrangements that you — or your loved ones — might need? Do you have a plan to pay for them? Are the necessary financial, legal and medical documents in order and accessible to those who will need them? Is your estate plan up to date?

These are all important questions, but they take on a special resonance — and urgency — against the backdrop of rising health care costs and an aging population.


The percentage of people aged 65 and older is expected to increase from about 13% of the total U.S. population in 2012 to about 24% by the year 2060. That's roughly 98 million people aged 65 or older —more than double the number there were in 2012.1

At the same time, Americans are living longer than ever before. Those reaching age 65 can now expect to live another 18 years,2 and the 85+ population is projected to increase from 6.2 million in 2014 to 19.7 million in 2060.1,3

All of this means increasing demand for elder care services and increasing pressure on families. Among those 70 years old or older who need some help with personal care or routine aspects of daily life, the vast majority receive help from family members. Complicating matters, many of these caregivers are also in the "sandwich generation" — that is, they have children under the age of 18 at home.


Prompted by these powerful demographic trends — and more specifically our special focus on the elder care concerns of high-net-worth individuals and their families — professionals from across U.S. Trust developed a comprehensive program of elder care services for our clients themselves, as well as for those clients who will need to provide care for aging loved ones.

The program focuses on four key areas:

1. Organizational services

Being prepared to deal with the unexpected becomes more important as our clients and their loved ones grow older. We assist clients in gathering and organizing critical financial, legal and medical information — insurance policies, account ownership and trust documents, and wills and health care proxies, among others. The need to access key documents often arises unexpectedly, such as when a loved one suddenly falls ill. Assembling documents and sharing them with appropriate family members as early as possible can reduce stress and facilitate their handling later.


When aging relatives can no longer take care of their own needs, families are faced with decisions about what kind of assistance will be required and which facilities can best supply that help. Can a loved one continue to live at home with the help of family members and paid staff? Would that person be happier in an assisted living facility that provides the opportunity to socialize with other people? Or is 24-hour medical supervision offered by a nursing home required? Even once these broad decisions have been made, families must evaluate which facility is the best fit for their loved ones, taking into account services, location, and overall quality and atmosphere of the available options. All of this usually occurs during a period of great stress, when a loved one's health is deteriorating.

One unique aspect of the ElderCare Planning program is the care coordination service that can help clients and their families navigate these unfamiliar waters by offering access to a dedicated team of elder care planning specialists through our partnership with external organizations.

Services center on coordinating and overseeing medical care — providing referrals for reliable geriatric assessments (a diagnostic tool designed to assess the medical capabilities of elderly patients) and assistance in creating a care plan; assessing long-term health facilities and their entry requirements; finding concierge health care services and elder care specialists; and providing support for family caregivers, including training and recommendations regarding in-home monitoring technology.

Our partners have evaluated hundreds of living facilities all over the United States to identify leading providers. They can help clients assess their own or their loved ones' needs for elder care and identify the most appropriate options. They can also guide clients through the sometimes complex application process. Even if assisted care or a nursing home is not yet necessary, the team can help evaluate other possible living situations — helping a client decide, perhaps, to sell a large family home and move to a smaller, more easily maintained residence.

We can put clients and their families in touch with all the resources of our elder care alliance partners, who work with U.S. Trust clients on a preferred basis and at specially negotiated prices. Referrals are made to our external partners at no charge to clients, and U.S. Trust receives no compensation from these partners for providing these referrals.


With longer life expectancy comes increased concerns about health and mobility, retirement, and overall financial well-being. Whether we're talking about nursing homes, assisted living or home care, living and mobility arrangements are among the key expenditures people over the age of 65 will likely incur at some point in their lives.

In addition to providing important educational resources about the financial issues related to aging, our ElderCare Planning program can help clients (and often their parents and other loved ones) with important financial planning for longevity — including budgeting assistance, retirement asset planning, the analysis of long-term care insurance and assessments of other ways of financing long-term care arrangements. In areas where we don't provide on-the-ground resources — such as long-term care and life insurance agreements — we have established alliances with premier providers.

Through dialogue with you and your aging loved ones, we can develop strategies that fit your family's unique needs for wealth planning in these critical later years.


U.S. Trust has a history of helping families pass their wealth from generation to generation, developing expertise in wealth transfer planning services. This knowledge and experience is the core of our business, and our capabilities are truly comprehensive, ranging from multigenerational planning to agent for trustee, revocable and other trusts, gifting and philanthropy, coordination of beneficiary designations across generations, wills, durable powers of attorney, health care proxies, and estate settlement services. We address these topics with our clients every day, but we've also made them part of the ElderCare program for anyone who needs assistance. Health care proxies and living wills are a particular focus of the estate planning services in our ElderCare Planning program. While these documents are not related to one's financial wealth plans, having them in place can be essential to help ensure that the care provided better reflects an individual's wishes.

Whether you or your loved ones already have an estate plan in place and simply need to fine-tune it to align with current priorities, or if the planning process is just beginning, we can provide in-depth experience and insight.

For more information on this topic, please contact your U.S. Trust® advisor.

1 U.S. Census Bureau, "Projections of the Population by Age and Sex for the United States: 2015 to 2060", U.S. Census Bureau, released Dec, 2014 (most recent released by the U.S. Census Bureau Data on Population Projections, National Population Projections)
2 Centers for Disease Control and Prevention, "Health, United States: 2012, Life expectancy at birth, at age 65, and at age 75, by sex, race, and Hispanic origin," Centers for Disease Control and Prevention, 2012 (latest data available).
3 U.S. Census Bureau, "Projections of the Population by Age and Sex for the United States: 2015 to 2060", U.S. Census Bureau, released Dec, 2014


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