In chess, the Ruy Lopez opening teaches one lesson above all: think several moves ahead. A stroke teaches the same lesson the hard way. Recovery is the goal, and in 13 Gates: A Stroke Recovery Journey Ernest Cox shows how he worked toward it one gate at a time. But a serious stroke or another life-threatening injury can also leave a person unable to manage money, sign papers, or speak for themselves. Planning for that possibility is not giving up on recovery. It is protecting the people you love while you fight for it.
Here are the moves a stroke survivor can make now, while they can still make their own decisions.
Move 1: Name someone to manage your money
A durable financial power of attorney gives a person you trust, called your agent, legal authority to make financial decisions for you if you cannot. It is called “durable” because it stays in effect even if you become incapacitated, and you can change or cancel it as long as you are still able to make decisions (Consumer Financial Protection Bureau). If no power of attorney is in place and you can no longer manage your money, a court may have to name a guardian or conservator instead (CFPB: Considering a Financial Caregiver).
The CFPB also suggests choosing a backup, called a successor fiduciary, in case your first choice can’t serve. Whoever you name must, by law, act only in your best interest, manage your money carefully, keep it separate from their own, and keep good records (CFPB: What Is a Fiduciary?).
Move 2: Put your health care wishes in writing
A living will states the care you do or don’t want if you are too sick to make your wishes known. A durable power of attorney for health care names the person who will make medical decisions for you if you can’t (National Institute on Aging). Talk with your loved ones and your doctor about these choices, and give your doctor, bank, and insurance company permission in advance to speak with your caregiver (NIA: Getting Your Affairs in Order Checklist).
Move 3: Decide where your money and property will go
A will says how your property, money, and other assets will be distributed when you die, and it can address care for children under 18 and adult dependents. A living trust names a trustee to hold and distribute property and funds for you when you can no longer manage your affairs (NIA). State laws vary, so ask a lawyer about the rules and forms in your state.
Move 4: Gather your papers in one place
The National Institute on Aging recommends keeping your important records together and telling someone you trust where to find them (NIA). Start with:
- Sources of income and assets, such as pensions, IRAs, 401(k)s, and Social Security information
- Insurance policies (life, health, long-term care, home, car) with policy numbers and agents’ contact details
- Bank names and account numbers, plus mortgages, debts, and when each payment is due
- Your most recent tax return, your will, your home’s deed, and your car title
- Current prescriptions, your living will, and your health care power of attorney
Keep a separate, secure list of online banking passwords and PINs, and update everything when something changes (CFPB). Review your plan at least once a year and after any major change in your health (NIA).
Move 5: Know what disability benefits may cover
If a stroke keeps you from working, Social Security Disability Insurance (SSDI) pays monthly benefits to workers who have paid into Social Security and have a condition expected to last at least a year or result in death. SSDI can also pay certain family members (Social Security Administration). Social Security advises applying as soon as you become disabled, because payments generally begin no sooner than the sixth full month of disability (SSA: How to Apply).
Move 6: Plan for long-term care costs
Many families are surprised to learn that Medicare does not pay for most long-term care, such as ongoing help with bathing, dressing, or eating (Medicare.gov). Medicare covers skilled nursing facility care for up to 100 days in a benefit period if you qualify, and Medicaid pays the largest share of long-term care for people who meet their state’s income and eligibility rules (Administration for Community Living). Private options include long-term care insurance, life insurance options, annuities, and reverse mortgages (ACL).
The endgame: peace of mind
A good chess player sets up the board so every piece is protected. These six moves do the same for your family. Once they are in place, you can put your full energy into recovery, knowing the people you love are covered if the road gets harder.
Continue the 13 Gates journey
Ernest Cox tells the full story of his recovery, gate by gate, in 13 Gates: A Stroke Recovery Journey on Amazon. For caregivers and families, see more stroke recovery books at 25Pages.
This article shares general educational information. It is not legal, financial, or medical advice. Laws and benefit rules vary by state and change over time, so talk with an elder law attorney, a financial professional, and your doctor about your situation. If you think someone is having a stroke, call 9-1-1 right away.