Catering to the Elderly

It will probably come as no great surprise that there are plenty of retired people living in Florida and that many professional services firms cater to the elderly. Clearly, a trusted CPA firm is certainly a good place to turn to for a financial professional to handle eldercare needs.   Add to this the fact that the U.S. Census Bureau says that within three years, approximately 40 million people in this country will be 65 years or older. What’s rather alarming is that 30 percent of all known cases of fraud are committed against the elderly; that’s considered twice the normal rate.   So, what can be done? Who to trust? No one, of course, has the patent on catering to the elderly, and there are plenty of top notch CPA/Financial Planning firms doing it. However, one came to mind recently when this firm purposely took the concept to the next level and developed what it called FamilyFirst Elder Planning Services. The idea was to provide seniors and their families with a safety net. The range was a wide one from providing financial expertise and professional assistance, to safety and well being, to even hurricane preparation.   Friedman, Cohen, Taubman & Company in Plantation, Florida, has a special division assists its elderly clients in continuing to live an independent lifestyle by catering to their individual needs and keeping their families informed. The firm says that FamilyFirst can benefit everyone who has time constraints but who want to help a loved one in need to maximize and maintain their independence. In short, they look to relieve the pressures of managing one’s own financial affairs, or help that loved one make the most of their resources and financial choices.   “We understand the pressures that families encounter when having to make financial choices for an aging loved one,” says Tracey Kinker-Gebert, CPA Manager of the firm’s Elder Planning Services. “We have devised this program that not only helps relieve the burdens of managing financial affairs, but keeps a close eye on the client’s routine activities and overall well-being. This is extremely comforting for relatives who may not live close to their elderly family members.”   Kinker-Gebert, who was recently elected as the Chair for 2007-2008 Elder Care Committee for the Florida Institute of Certified Public Accountants, developed the FamilyFirst program. “As our client base aged, our experience and love for working with the aged along with the opportunities for elder financial exploitation, the need for such services became apparent.”   The firm’s FamilyFirst Elder Planning Services assists its elderly clients in making the best financial decisions in their retirement years. From guardianship reporting to routine financial, accounting and tax transactions, the program acts as a safety net for seniors and their families. This program allows clients to integrate FamilyFirst’s custom services into every aspect of their life, meeting their initial needs and modifying the plan as their needs change.   The firm says that FamilyFirst provides periodic reports to family members regarding their loved one’s financial activities, offers to coordinate home inspections and home maintenance and also creates in-depth weather protection plans. Its advisors also help coordinate with geriatric care managers, home healthcare providers, investment advisors, attorneys and other professionals to ensure the clients are receiving the proper protection and care.