Experts Urge Families to Secure Power of Attorney, Plan for Long-Term Care Before Crisis Hits
Many families delay long-term care and financial planning until a crisis occurs, leaving loved ones unprepared and overwhelmed.
In a recent episode of 62 Who Knew, host Michael Banner was joined by elder law attorney Cathy Sikorski, along with panelists Jon Thomas, Director of National and Strategic Accounts at Amada Senior Care, and long-term care expert Matt McCann. Together, they underscored the critical need for legal and financial planning—particularly power of attorney (POA) documents—to safeguard families from turmoil when aging parents or spouses require care.
Legal Documents Ease Crisis
One of the biggest mistakes families make is failing to establish powers of attorney for financial and healthcare decisions before a loved one becomes incapacitated. Without these documents, adult children or spouses may find themselves unable to access bank accounts, pay bills, or make medical decisions.
Sikorski, a Pennsylvania-based elder law attorney and author, emphasized that having a POA is just as important as having a will.
"If you don't have a power of attorney in place and something happens—whether it's a stroke, an accident, or cognitive decline—your family is stuck," Sikorski said.
They can't make financial decisions, they can't access your assets, and they may have to go through a lengthy and expensive guardianship process just to take care of you.
Without a POA, family members must petition the court for guardianship, a process that can cost thousands of dollars and take months—time that many families simply don't have in a crisis.
You don't want your family fighting in court over who gets to make decisions for you when they should be focusing on your care.
Role of Long-Term Care Insurance in Decision-Making
Beyond legal documents, the panel stressed the need for financial planning, particularly when it comes to long-term care. McCann explained how Long-Term Care Insurance provides families with options, reducing the emotional and financial burden on caregivers.
"It's not about the money—it's about the choices money provides," McCann said.
If you have Long-Term Care Insurance, your family isn't forced to choose between bad options. You can afford professional caregivers, and your adult children can remain just that—your children—not your full-time caregivers.
62 Who Knew host Mike Banner shared a personal story about caring for his late father, a World War II veteran, who eventually needed around-the-clock care. Despite having Medicare, supplemental insurance, and VA benefits, Banner still paid thousands per month for in-home care.
"When he told me, 'I need you to be my son, not my caregiver,' that hit me," Banner said.
I realized that without financial planning, many families don't have that choice. They're forced into caregiving roles, whether they're prepared for it or not.
Preventing Family Conflict Through Early Planning
Family caregiving often leads to disputes, particularly when one sibling is left responsible for making decisions. Sikorski explained that when there are no legal documents in place, siblings may disagree on everything—from care decisions to financial matters—leading to resentment and fractured relationships.
"I see it all the time," Sikorski said.
One sibling steps up, usually a daughter, and the others either don't help or they don't agree with the decisions being made. If there's a power of attorney in place, there's no debate. The person with POA makes the decisions, and it prevents family fights that can last a lifetime.
She emphasized that POAs should be established while a person is still mentally capable of making decisions. "If you wait until a dementia diagnosis or an accident, it may be too late," she warned.
Caregivers Are at Risk Too
Another key issue discussed was the toll caregiving takes on family members. Studies show that family caregivers are more likely to suffer from stress-related illnesses, strokes, and even premature death.
Those statistics stagger me," Banner said. "The reality is that caregivers often get sicker than the people they're caring for. If you don't plan ahead, you're not just putting your loved one at risk—you're putting yourself at risk too.
Jon Thomas noted that many families are in turmoil when they are called in to provide in-home care services. Thomas says in some situations the care recipient cannot tell their adult children what they want because they are unable to do so. This creates a problem with the siblings who are trying to agree on a plan of care.
There is typically a daughter who is put in charge of that care, being the decider, and is often put in a position where they have to make a decision that their siblings don't agree with, which leads to disagreement and turmoil.
He says these disagreements often lead to broken relationships all because no planning was done beforehand.
Take Simple Steps Now
The panel urged listeners to take immediate action to prepare for the future. Sikorski outlined three key steps everyone should take:
- Establish a Power of Attorney for Finances and Healthcare – This ensures someone can manage your affairs if you become incapacitated.
- Create a Long-Term Care Plan – Whether through insurance, savings, or Medicaid planning, families need a strategy to cover care costs.
- Discuss Your Wishes with Family – Open conversations can prevent future conflict and ensure that loved ones understand your preferences.
"Just a little bit of planning now can prevent a crisis later," McCann said.
It doesn't take mountains of time or money—it just takes action.
Sikorski says planning avoids a family crisis.
At the end of the day, planning isn't just about finances or legal documents—it's about peace of mind It's about making sure your family isn't left scrambling in a crisis. And that's something every family deserves.
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Quality Care for Loved Ones
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