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Attorney-CPA Joe Cordell and co-host Susan Arthur discusses the challenges that come up when you are an elder orphan, and Susan explains that an elder orphan is an aging adult who does not have adult children close by or at all, a spouse, or family members that are close by.

Joe and Susan discuss the impact that not having family members in the area has, as well as the need to create a familial-type unit in communities. They also talk about churches and the various organizations that exist, in order to take care of seniors who find themselves in these difficult situations.

They talk about the necessary steps that family members who live far away from their aging family members have to take, in order to allow them to stay in their home while they can. However, Joe and Susan highlight taking the necessary steps before emergencies arise. Joe also discusses durable Power of Attorneys and who you could potentially choose to represent your best interests.

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Mark Werner, owner of Cornerstone Advisors and certified financial planning professional returns to ElderTalk with Joe Cordell to discuss financial planning, as it pertains to housing for the elderly. Attorney-CPA Joe Cordell and co-host Susan Arthur join Mark in the conversation to highlight the methods to pay for the medical or custodial care that seniors often require in their housing.

Mark breaks down how the features of the housing care affect the costs and planning involved in the process, as well as how an attorney and a financial advisor working in tandem can be an effective way of building a plan, in order to pay the necessary expenses while protecting assets.

Mark also addresses questions regarding long-term care insurance by giving an example of how payments were addressed and how the chances for the need for long-term care can be a reasonable investment in your medical and financial future.