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Bringing Joy to Dementia

July 17, 2019 by Honey Leveen Leave a Comment

Bringing Joy to DementiaDr. Patricia (Tia) Powell has a new book, “Dementia Reimagined“. In this refreshing piece of work, Dr. Powell, director of the Montefiore Einstein Center for Bioethics, shares her experiences with dementia as both caregiver to her mother and physician to her aging patients. Abundantly qualified and credentialed, she finds herself in the unique position to discuss the possibility of joy, dignity and hope while dealing with dementia.

Terry Gross, host of the NPR podcast Fresh Air, had an excellent conversation with Powell. They delve into Powell’s experiences and her outlook for the future of treating dementia patients. You can listen to the podcast yourself (or read the transcript) here.

“Figuring out how to communicate better, how to listen better to people with dementia while they can speak and even potentially afterward to figure out, what could I do? What actually would be helpful, not from my point of view but from yours? What actually would make things better?”

In this poignant interview, they discuss the various tolls that dementia takes on the person. It’s not just memory loss. It can also include depression or anxiety. It’s a disease of the brain, so it also involves loss of “executive function”. That means that making the simplest decisions or even organizing the natural flow of tasks can be daunting. And frustrating.

Managing Dementia With Joy

Dr. Powell views caregiving and dementia through both a medical and a personal lens. My relationship with dementia patients is as their insurance agent, helping them manage their long term care. It’s reassuring that Dr. Powell and I share perspectives on how to optimize the patient’s experience.

During her interview, Dr. Powell offers sound advice on how families can make the most out of a dementia diagnosis. She often uses music as a real comfort to many of her patients. For some reason, the memories we hold from certain songs manages to hold up over time, even in the throes of dementia.

ProTip: Many professionals recommend making a playlist of your favorite songs NOW, while you can think of those chestnuts that light up your heart and bring a smile to your face. They’ll be such a source of joy for you in your later years.

She also suggests other hobbies like gardening might hold the key to reconnecting the patient to activities they once enjoyed.

Powell also shares her thoughts on why keeping the dementia patient at home is not always the best choice. Followers of this blog know that I’ve written about this often over the years. It’s always affirming to hear the experts supporting my views!

At about the 30-minute mark of the podcast, Dr. Powell does a great job explaining what Medicare and Medicaid pays for, and why neither will pay for the type of long term care a dementia patient requires. If you’re like most Americans, her description will clear up many confusing questions you might have.

Manage the Fear with Planning

Dr. Powell stated people are more fearful of getting Alzheimer’s disease and other dementias than they are about getting cancer. I have to agree with this.

While there is no cure for dementia, we can take steps to plan for the best possible care if and when we need it. Make your playlist. Tell your children about your love of gardening or old movies. And click here to receive your free, no-obligation quote for long term care insurance.

Filed Under: Age related brain loss, Age related cognitive impairment, Denial, Elephant in the Room Tagged With: dementia, Dementia Reimagined, Long-Term Care Planning, ltc planning, Patricia Tia Powell MD

Your Wealth Won’t Protect You From Fraud and Financial Abuse

July 15, 2019 by Honey Leveen Leave a Comment

Wealth Won't Protect You From Fraud and Financial AbuseMany people have a fond place in their hearts for the art of Peter Max. A symbol of the hippie counterculture in the 1960s and 1970s, Max’s work holds prized locations on the walls of collectors around the world. Now in his later years, Peter Max has fallen victim to dementia. His wealth nor his notoriety can protect him from the financially abusive situation he has landed in.

The courts are still sorting out the details of this twisted tale. Including lots of finger-pointing between his second wife, Mary Max (who died from suicide in June 2019), his son, Adam, and his daughter, Libra, along with the various lawyers, agents and guardians who were supposedly protecting Peter Max and his valuable business.

His Wealth Declined With His Health

The current state of Max’s condition is revealed in this article in the New York Times (May 28, 2019). The writer describes his lavish lifestyle and the popularity of his artwork. She also reports on the financial losses of his business and the questionable source of it’s latest recovery.

In 2012, Max’s health had rapidly declined and the dementia had taken a firm hold. Max was unable to work and finances suffered. The business, ALP Inc., defaulted on $5.4 million in bank loans. In exchange for half of his ownership in ALP, Max hired Lawrence Moscowitz, an insurance agent, to help breathe new life into the failing company. Moscowitz, in turn, appealed to Max’s estranged son, Adam, to actively manage the daily operations.

The revived business plan includes the hiring of “an expanding cast of artists to mimic Mr. Max’s more commercial work. In the acrylic-spattered space above the Chinese restaurant, according to seven people who have seen it, there were as many as 18 assistant painters…”

In six years, ALP transitioned from near-bankruptcy to generating over $93 million in sales. This is largely due to the aggressive exploitation of Peter Max’s reputation and his artistic style being sold as originals to unsuspecting consumers.

Where Was His Plan?

Peter Max’s business is now out of his hands, both artistically and financially. His family dynamics have deteriorated with the fight for guardianship between his wife and his children. Much of this could have been avoided by some thoughtful, advance planning and documentation. He could easily have provided for a formal succession plan. He could have selected his own guardian to look out for his interests in his later years.

Wealth is no protection against this type of failure. Oftentimes, the wealth only makes the fall more newsworthy. Stories about people protected from future illness by their long term care planning just don’t make the news.

You can take steps today to protect your future quality of life. Click here to receive your free, no-obligation quote for long term care insurance.

Filed Under: Age related brain loss, Age related cognitive impairment, Denial, Elder fraud exploitation scams, Elephant in the Room Tagged With: age related cognitive decline, brain loss, Long-Term Care Planning, ltc planning, Mary Max, Peter Max

Retirees Don’t Want to Spend Their Retirement Savings On Care

May 10, 2018 by Honey Leveen 1 Comment

Senior man holding piggy bankThere’s yet another piece of research out telling us that retirees are unwilling to pay for long term care (LTC), even when they have more than enough in retirement savings. They are reluctant to “spend down” their accumulated wealth, “even when assets are plentiful or when there is guaranteed income available to ensure that retirees will not run out of money.”

Lori Lucas, president and CEO of the Employee Benefit Research Institute (EBRI), points to all the financial uncertainty of retirement. These pensioners may be “afraid of facing catastrophic health care costs if they need to stay in a long-term care facility for a prolonged period.”

Ironically, the monthly cost of a LTC insurance (LTCi) premium would go a long way to relieve that uncertainty.

You can read the detailed study here, “Asset Decumulation or Asset Preservation? What Guides Retirement Spending?”

They Won’t Dip In to Their Retirement Savings

I spoke with a home care agency owner who sees this all the time. He said that 75% of his clients who own long-term care insurance (LTCi) would not be getting much-needed care without their LTCi benefits. Even though they lived in million dollar homes with abundant financial resources, they’d rather not spend the money. Despite their ability to pay, they would rather do without the care were it not for their LTCi benefits. They just don’t want to “spend down” their retirement savings.

If you scroll through the comments on my Testimonials page, you’ll see many adult children confirming that their highly affluent parent would not have consented to needed care if they didn’t own LTC insurance.

Here’s another blog I did about highly affluent people who just don’t like to spend money.

LTC insurance helps people access high quality care, it’s that simple! Click here to receive your free customized quote.

Filed Under: Elephant in the Room, I'll Just Self-Insure, Information About LTC Tagged With: ltc planning

Adopting A Dog is not a Long Term Care Plan!

August 1, 2017 by Honey Leveen Leave a Comment

My dog T Beau and I took a road trip during the 4th of July weekend. We stopped for gas between San Antonio and Houston. T Beau and I went for a walk, where he met another small dog. They did what dogs do to become acquainted.

As is often the case, while our dogs were getting to know each other, the owner of the other dog started pleasantly chatting with me. She was older and appeared to be in good health. She was 79, her husband 84. Imagine my surprise as she chose to tell me about her plan for long term care (LTC), right off the bat!

The surprises continued as she explained that they adopted the dog because, “if one of us dies, the other will have company”. Yes. The dog was their long term care plan.

Be Realistic About Your Needs for the Future

I was silent for a short while. The best I could do was to politely tell her that this didn’t sound like a realistic long term care plan to me. I wished her a safe trip and T Beau & I continued on our way, her words still ringing in my ears.

Of course, having companionship is important and has proven to extend the quality of life, even in later years. However, having a sweet pup around isn’t going to help when you can’t button your blouse or open a can of soup. Or a can of dog food.

Share Your Long Term Care Plan with Friends & Family

Talk about your plans, honestly and explicitly. Make sure your most trusted friends and loved ones have copies or scans of your LTCi Schedule pages. Be proactive. If you own LTCi, the moment you need a little help with your activities of daily living, file a claim. Denying the fact that it’s time for you to get extra help can cause unnecessary fear and undue stress for you and those you love. It can also lead to avoidable accidents and a quicker decline than necessary.

Can you afford Long Term Care Insurance? Click here to receive your free quotation.

Filed Under: Elephant in the Room, Helpful Information About LTC, I'll Just Self-Insure, Information About LTC Tagged With: Long Term Care insurance, Long-Term Care Planning, ltc planning, LTCi

You are Not as Financially Smart as You Think You Are

August 9, 2016 by Honey Leave a Comment

Not As SmartThe name of the New York Times article is “What You Think You Know About Money, but Don’t, Can Hurt You”. I prefer to be more blunt: You are not as financially smart as you think you are.

The Finra Investment Foundation does a long-term, ongoing study on the public’s financial literacy. The 2016 study has just been released.

People are far more financially vulnerable than they believe they are. Fewer people got the answers the same five questions correct this year; this is a continued trend. Conversely, 76% of subjects gave themselves a “very high” rating on financial knowledge. This percentage continues to increase.

I have no idea whether these trends correlate to increasing income inequality, decreasing educational levels or overall hard times.

This behavior correlates well with the denial I’ve faced for over 25 years. When I ask people with good jobs and lots to lose, who know me, who like me, who recognize my competence, ethics and sincerity, whether they’ll have a conversation with me about long-term care planning odds and options, my invitation is usually declined.

The Finra study proves to me that we are going to have millions upon millions of people who need long-term care and are woefully unprepared for it. Because of this, many people will suffer unnecessary loss of dignity, family discord and sacrifice, and financial ruin.

Filed Under: Denial, Elephant in the Room, Helpful Information About LTC, I'll Just Self-Insure, Information About LTC Tagged With: FINRA, Long Term Care insurance, long-term care, ltc planning, LTCi

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Open Quotation Mark"Honey - Whenever I need a clarification regarding our “LTC” you are “Johnny on the spot” responding in a very prompt manner, reassuring me, informing me in a concise way, patient with me as I massage the understanding in my own words. Your knowledge is current and expressed with confidence, offered in your conscientious and upbeat personality. Quotation Mark ClosedIt is a pleasure to work with you. Thank you for your expertise." ~ Nancy Damon, Houston, TX
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Honey Leveen, LUTCF, CLTC, LTCP
“The Queen, by Self-Proclamation, of Long-Term Care Insurance (LTCi)”
404 Royal Bonnet
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Phone: 713-988-4671
Fax: 281-829-7177

Email: honey@honeyleveen.com

Email: honey@honeyleveen.com

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