The Life Resource Planning Team

The Life Resource Planning Team

The best way to help seniors and their families identify and utilize the complex, myriad and disparate senior support in the community and from the government is through a solution-based approach that we call Life Resource Planning. This fee-based planning solution almost always requires a team effort. We can't even begin to solve the problems of aging seniors by taking a single advisor approach. The effort must be coordinated under a master plan and often a number of resource team members are involved in providing solutions. Solutions are not specific products or services, but could translate into these as a result of the planning. Solutions are concepts, actions and strategies.

To be successful, Life Resource Planning requires at least 5 practitioners.  Some of these Life Resource Planning teams have formalized their relationship into a service entity called an "Elder Planning Council."  The services of core elder planning council members represent the majority of solutions uncovered through a Life Resource Plan.  Here is a list of these core council members:

  • senior's financial services specialist
  • geriatric service or care management specialist
  • elder law or estate planning attorney
  • reverse mortgage specialist
  • private duty home care services

The Life Resource presenter will derive fees from helping aging seniors optimize their resources.  A financial specialist, an elder law or estate planning attorney and possibly a geriatric service specialist often need to collaborate on producing an effective master plan.  Usually, the financial specialist will take the lead in promoting and implementing a life resource plan. This is true because some aging seniors do not need any additional direction from attorneys or geriatric specialists or the services they bring together. This is particularly true for those individuals who are living in assisted living or nursing home environments. By providing all-purpose planning – focusing on finances and the eventual need for Medicaid – we can reach those aging seniors who have – at a minimum – a need for examining their financial situation and implications for the future.

This approach to planning does not involve referring out services to some other life resource planning entity and hoping that the client and the other entity eventually connect. An integral part of every Life Resource Plan is the scheduling of an appointment – where it is needed – with other members of the council and the client to ensure that directions for solutions are addressed adequately. An accounting from all members of the council will be made through ongoing monthly contact with all council members.

In addition to the core council members, occasionally the planning process will uncover the need for additional advice or services. The practitioners listed below are sometimes necessary to complete a Life Resource Plan. However, their services are not always needed and as a result, they do not play as important a role in supporting a local planning council that is formed around Life Resource Planning. Here are some of these additional specialists.

  • veterans benefits specialist
  • Medicaid planner
  • geriatric health care provider
  • house call physician or geriatric nurse practitioner
  • long term care insurance specialist
  • Medicare supplement and advantage plan specialist
  • move manager or real estate agent specializing in seniors
  • downsize specialist
  • seniors' moving company
  • home modification and remodeling
  • home maintenance, yard services and chore services
  • assisted living placement
  • home health agency
  • hospice provider
  • medical equipment
  • medical alert, home monitoring and home safety
  • funeral preplanning
  • tax planner/CPA
  • fiduciary services provider