For high-net-worth (HNW) and ultra-high-net-worth (UHNW) families, elder care is rarely a question of affordability.
It is a question of control, coordination, privacy, and family alignment.
When aging parents begin to need support—whether gradually or suddenly—the financial implications are often the easiest part. The real complexity lies in decision-making authority, family dynamics, healthcare uncertainty, and the emotional weight of responsibility.
At OnePoint BFG Wealth Partners, we view elder care planning not as a standalone task, but as an essential component of a family’s broader financial perspective—what we call your OnePoint. When handled thoughtfully, elder care planning protects dignity, preserves relationships, and prevents wealth from becoming a source of conflict at one of life’s most sensitive moments.
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Why Elder Care Becomes More Complex With Wealth
Affluence introduces options—but also layers of complexity.
Many high-net-worth families face elder care decisions that include:
- Multiple residences across states or countries
- Private caregivers, concierge medical services, or bespoke facilities
- Blended families or unequal financial involvement among children
- Heightened concerns around discretion, safety, and privacy¹
Without advance planning, these variables can create confusion rather than comfort. The absence of a clear structure often forces families into reactive decisions during moments of stress—when clarity is hardest to find.
Wealth does not eliminate uncertainty. It amplifies the consequences of poor coordination.
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The Hidden Risks of “We’ll Handle It Later”
One of the most common—and understandable—mistakes families make is postponing elder care planning until a health event forces action.
This delay can lead to:
- Loss of decision-making authority if legal documents are incomplete or outdated²
- Family conflict when siblings disagree on care, spending, or control³
- Unintended financial exposure, including inefficient spending or tax consequences
- Emotional strain on adult children suddenly thrust into leadership roles
In many cases, families have the financial means to solve problems quickly, but not the framework to decide how those resources should be deployed.
Planning early is not pessimistic. It is protective.
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Elder Care as a System, Not an Expense
Sophisticated elder care planning treats care as an integrated system rather than a single financial decision.
This often includes:
- Clear legal authority through properly structured powers of attorney and healthcare directives⁴
- Defined roles so family members understand who makes medical, financial, and logistical decisions
- Funding strategies that preserve liquidity while aligning with long-term estate plans⁵
- Contingency planning for cognitive decline, changing care needs, or geographic relocation⁶
When these elements work together, families gain confidence that decisions will remain aligned with their parent’s wishes—even as circumstances evolve.
At OnePoint BFG, we help families coordinate these moving parts, so care decisions reinforce, rather than disrupt, the broader wealth strategy.
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Protecting Family Relationships While Protecting Assets
Elder care decisions are rarely just about care. They are about fairness, responsibility, and trust.
Common points of tension include:
- One child providing time while another provides financial support
- Disagreements over care quality versus cost
- Unclear expectations around reimbursements, inheritances, or authority
Left unaddressed, these issues can fracture relationships long after the care need has passed.
Thoughtful planning creates space for:
- Transparent communication
- Clearly defined expectations
- Shared understanding of values and priorities
When families agree on how decisions will be made before urgency arises, they reduce the risk of resentment and second-guessing.⁷
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Preserving Dignity, Independence, and Privacy
For many affluent families, elder care planning is not about extending life at all costs. It is about preserving quality of life, independence, and personal dignity.
This may involve:
- Planning for in-home care before facility-based solutions
- Structuring finances to support choice, not constraint
- Protecting privacy through discreet care arrangements
- Ensuring care decisions reflect personal values rather than default outcomes⁸
Elder care planning is ultimately an expression of respect—for the individual and for the family system surrounding them.
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Elder Care Through the OnePoint Lens
At OnePoint BFG, we believe elder care planning belongs within a unified financial perspective.
When integrated into your OnePoint:
- Care decisions align with estate and tax strategies
- Family members understand their roles with confidence
- Wealth supports stability rather than stress
- Transitions occur with intention rather than urgency
Elder care is not a detour from long-term planning. It is part of it.
The most effective elder care plans are created before they are needed. They are built during periods of stability, when conversations can be thoughtful rather than reactive.
For high-net-worth families, the goal is not simply to fund care—but to ensure that care decisions preserve family harmony, personal dignity, and long-term confidence.
At OnePoint BFG, we help families navigate these conversations with clarity, discretion, and perspective—so when the moment arrives, decisions feel guided rather than forced.
If you value clarity, alignment, and discretion, we’re available for a private discussion about how elder care fits within your broader financial perspective.
Sources
- U.S. Department of Health & Human Services, What Is Long-Term Care?
https://acl.gov/ltc/basic-needs/what-is-long-term-care - National Institute on Aging, What Is Long-Term Care
https://www.nia.nih.gov/health/what-long-term-care - AARP, Planning for Long-Term Care
https://www.aarp.org/caregiving/long-term-care/ - Mayo Clinic, Advance Directives: Living Wills and Medical Power of Attorney
https://www.mayoclinic.org/healthy-lifestyle/consumer-health/in-depth/living-wills/art-20046303 - Fidelity Investments, How to Plan for Long-Term Care
https://www.fidelity.com/viewpoints/personal-finance/long-term-care-planning - Harvard Health Publishing, Advance Care Planning
https://www.health.harvard.edu/caregiving/advance-care-planning - U.S. Bank Wealth Management, Family Conversations Around Aging and Care
https://www.usbank.com/about-us-bank/company-blog/article-library/challenging-conversations-about-money-talking-with-aging-parents.html - Kaiser Family Foundation, Medicaid Home Care in 2025
https://www.kff.org/medicaid/medicaid-home-care-hcbs-in-2025/
Investment advisory and financial planning services offered through Bleakley Financial Group, LLC, an SEC registered investment adviser, doing business as OnePoint BFG Wealth Partners (herein referred to as “OnePoint BFG”). For more information regarding OnePoint BFG including important disclosures, please visit https://adviserinfo.sec.gov/.
The third-party information contained herein is provided for informational and discussion purposes only. OnePoint BFG does not represent this third-party information as its own. While OnePoint BFG has gathered this information from sources deemed to be reliable, OnePoint BFG has not reviewed or verified any information input by your financial professional or that of the third-party source, nor can OnePoint BFG guarantee the completeness or accuracy of this data.
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