Last week I presented (along with the wonderful Deborah Radin) at the Avenidas 2023 Conference on Housing. It was a great conference put on by a fabulous organization. My presentation focused on how to build a team of professionals, family members and friends to support us as we age. I liberally stole some material from an earlier blog post I wrote - Who's on the Trust Team? - but updated it with an overall framework for creating the team.
In building a team, it's good to start with the basics - Who, What and When:
Who do you trust? Obviously, you should trust all of your team members, but you will have stronger relationships with some. This person or people may not do all the heavy lifting, but they should be central to your team. This may be a family member, a friend or a long-time professional advisor. You may want to structure your team with this person or people in a role that oversees or approves the actions of others. In other words, they may not DO the work, but they should be AWARE of the work and be able to intercede if necessary. That can be a formal role like Trust Protector or Durable Power of Attorney for Medical Care, etc.
What do you need done? What are your strengths? Where do you need help? This is where you can supplement the team with specific skills: financial, medical, tax, caregiving, technology, etc. Perhaps you've never been strong in one of these areas. Perhaps you feel like your skills or knowledge are out of date. Perhaps you've simply lost interest in managing this part of your life. In any event, this is your opportunity to add a team member who can help.
When will you need help? The reality is that most of us will need more help as we age. Your teambuilding plan should take that into account. Choose your team members before you need them. Keep a list with contact information so that your team can quickly contact each other and work together.
We can't plan for every eventuality. But we can make some educated guesses about what we may need as we age. A little proactive planning and communication can set you up for most situations, provide peace of mind and increase the chances of enjoying life in your later years.
