End Stage Financial Planning Question

AnonCareGiver · New User Joined: 25 Oct 2008 Posts: 2

I have some questions that I've tried to google with no luck. I'm embarrased to ask.... my financial worries seem so minor compared to other stories that I read.

I care for a spouse who was initially diagnosed as Stage III rectal cancer. After a period of remission, it came back in the liver and lung. It's been pushed back to no evidence of disease and I hope it stays that way.

I am trying to do long term planning in the event that this nasty disease was to return and we couldn't beat it again. I don't know how to ask this question... As a caregiver, I've been there twice in helping with treatment... but I don't know anything about the burdens of pallative/end-stage/hospice.

Are there stories or statistics for questions like how long does the journey take? Weeks, months? How much reserves should I have built up? Should I expect to be caring for my spouse for longer the FMLA will protect my job? Will I lose my job?

It's hard to ask these questions because I know my spouses treatment is primary; but I feel the burden of providing for the whole family during and after if this was to come to pass.

brainman

Hi AnonCareGiver, I an very sorry about your spouses cancer. It is especially sad to hear that it has spread spread. It should be a Stage IV now. Nevertheless, people have been now to live for months or years with Rectal Cancer.

Your long term planning is wise. A lot of your financial problems will depend on the health insurance you have. If it covers the medical bills, that is fantastic. Nevertheless, you should be putting away some money on a regular basis to cover the unexpected. You might also consider pre-arranging and paying the funeral costs for yourself and your spouse. If you can do that, it will take a lot of the worries off of you when your spouse does die... whenever that is.

FMLA is a mixed blessing. It does secure A JOB (not necessarily the position you are now in) for a specific number of months (often 6 months). But during that time, your employer is not obligated to pay you. Worse, if you need more time than the FMLA plus vacation time, they can replace you.

You and your spouse are in my thoughts and prayers.
_________________
Jim
Administrator and long-term cancer survivor
1992 Astrocytoma grade 2, left motor strip
2005 Recurrence this time said to be an Oligodendroglioma grade 3, same location.
http://cancerforums.net/viewtopic.php?t=2405
My Story Part 1: http://cancerforums.net/viewtopic.php?t=2528
My Story Part 2: http://cancerforums.net/viewtopic.php?p=7350
My Story Part 3: http://cancerforums.net/viewtopic.php?t=8029
Twitter: @JimHawkins54

pbj11 · Site Admin Joined: 12 May 2007 Posts: 2404

Hi,

I'm sorry that anyone has to think about this type of stuff while in the midst of a battle for your loved one's life. I don't know a thing about the family leave info, as we were retired, but think Brainman covered it well.

What I will say is to have a health care power of attorney in place naming you and put EVERYTHING into a LIVING TRUST. A will doesn't protect you from probate, which will tie your assets up for a long time and cost more in legal fees than creating a trust ever will.

Good luck and keep thinking about any possible financial scenarios. I'm not a fan of pre-arranging funerals myself, but know that others do this regularly. It would have sent a bad signal to my husband and I knew he didn't approve of something like that, even though we had purchased our plots years ago. He was touchy about giving up on anyone, but we know hospice often recommends this to caregivers.

Hugs and best wishes for quality time with your spouse.

PBJ
_________________
Husband diagnosed with NSCLC Stage IV. (Non-Small Cell Lung Cancer) Fought & lived 2 1/2 years with multiple lines of treatment.

Post describing our battle: http://cancerforums.net/viewtopic.php?t=7026&postdays=0&postorder=asc&start=0

AnonCareGiver · New User Joined: 25 Oct 2008 Posts: 2

Thanks everyone. I have a specific question but I don't know where to look for the answer.

Imagine you could get life insurance from work for $50k that was not portable or you could get life insurance from work for $20k that was portable. Obviously $50k is better then $20k but what are the odds that you'd still be working for this employer with the policy enforce at the time of a claim?

brainman

AnonCareGiver, that is a very important question and one that only you can answer for yourself.

I am 54 years old, unemployed, disabled, and the cancer patient, so my answer would probably be different from yours. I will tell you that if I had the opportunity you describe, I would bet the $50K insurance and do everything that I could not to loose that job... especially in todays recessionary economy.
_________________
Jim
Administrator and long-term cancer survivor
1992 Astrocytoma grade 2, left motor strip
2005 Recurrence this time said to be an Oligodendroglioma grade 3, same location.
http://cancerforums.net/viewtopic.php?t=2405
My Story Part 1: http://cancerforums.net/viewtopic.php?t=2528
My Story Part 2: http://cancerforums.net/viewtopic.php?p=7350
My Story Part 3: http://cancerforums.net/viewtopic.php?t=8029
Twitter: @JimHawkins54

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