Helping Clients Navigate Caregiving for Aging Parents: Legal and Ethical Considerations

Certified Financial Planners often serve clients who are responsible for aging parents or other loved ones—or who themselves are growing older and facing diminishing cognitive capacities as a result. While a CFP’s job is ultimately to execute a client’s financial plans, it is also incumbent on the planner to recognize when someone’s decision-making abilities may be compromised, and to proceed in a manner that not only complies with the law but also aligns with the ethical standards of the profession.

In this session, Heifer Foundation Vice President of Planning Giving Debbie McCullough will discuss what financial planners and other professionals should consider when dealing with a client who may have diminished capacity or who may be a caregiver for someone who does. You will walk away with an understanding of how to recognize some relevant signs for concern, as well as the legal actions and documents needed to handle such cases responsibly. We will also consider the basic ethics of treating clients and caregivers fairly and with all due respect, and how to approach such difficult conversations with common sense, compassion and clarity on what steps to take next.

Learning Objectives:

1. Attendees will understand what it means when their clients become caregivers for aging parents, facing ethical, legal and financial challenges, or when the clients themselves face diminished capacity due to age.
2. Attendees will learn how Certified Financial Planners can proactively help clients plan for ethical, legal and financial concerns.
3. This session provides strategies to navigate decision-making when your clients face challenges of aging and diminished capacity.