Aging in Place: Elevating Estate Management for UHNW Clients

As an estate manager, I get to have a positive impact on countless aspects of my clients’ lives. But perhaps the most striking difference we can make with our services is by facilitating and optimizing Aging in Place (AIP) for our HNW seniors. 

It’s been my great honor and pleasure to work closely with families to ensure that their loved ones can continue living comfortably in their own homes as they age. It isn’t just about keeping someone in familiar surroundings (though that has a remarkable effect on people as they grow older); it’s about maintaining their quality of life, independence, and (perhaps most importantly) their dignity as they navigate new challenges that come with aging.

While every family is different, there are universal lessons and strategies that can help make the transition easier for high-net-worth seniors and their support networks. I hope these insights I've gained over the years, both from my own experiences and from working with top industry professionals, will be of use to you as you embark on this very worthwhile path.

1. Start with a Tailored Plan

Successful aging in place is a long process. Don’t think you can offer a one-size-fits all process or automate/ expedite your services here. AIP requires meticulous advanced planning and careful and caring consideration of the senior’s needs both today and in the coming years (probably decades). 

It’s essential to assess the household dynamics, the capabilities of any existing staff, and the senior’s overall health and lifestyle. 

• Are there chronic health conditions like diabetes or heart disease that may require specialized care? 

• Is the home equipped to handle mobility issues that may arise down the road?

From sourcing caregivers and household staff to modifying the home itself, the first step is always to create a customized plan that anticipates changes before they become urgent.

2. Never Has FInding The Right Staff Been More Vital

As the needs of aging seniors evolve, so too will the demands on their household staff. One of the most critical factors in successful AIP services is having a well-trained and empathetic team in place. This might mean adjusting the roles of existing staff or onboarding new members with specialized skills in elder care.

For example, seniors who need help with daily personal care (like bathing, dressing, or grooming) may benefit from a valet or a confidante. They assist with personal needs but also act as companions, ensuring the senior maintains their dignity and comfort. 

If your client doesn’t feel completely at ease with the people you find, you’re guaranteeing friction, frustration and failure.

3. Lifestyle Management: 

Many high-net-worth seniors are fiercely independent and prefer to manage their own lives. However, as they age, they may need assistance with daily routines and social activities. That’s where lifestyle managers come in. These professionals help seniors maintain their schedules, arrange outings, attend appointments, and ensure that they stay socially active, which is crucial for emotional and mental well-being.

In my experience, seniors who stay engaged in the world around them stay young longer, age more gracefully and do so with greater fulfillment.

4. Healthy Meals Are More Important Than Ever

Seniors are more susceptible to malnutrition, and meal preparation is often one of the first tasks that becomes difficult to manage. Delegating comprehensive planning responsibilities in a chef or domestic staff who understands dietary restrictions and can provide fresh, nutritious meals is a must.

In my role as an estate manager, I’ve seen how transformative a well-planned diet can be for seniors. It not only improves their physical health but also helps them maintain energy and a sense of routine.

5. Safety First: Home Modifications and Technology

As people age, it’s important to consider modifications that make their homes safer. Simple adjustments, like adding ramps, lowering cabinets, or installing walk-in showers, can go a long way in making a home accessible for seniors with limited mobility.

The rise of smart home technology has been a game changer for aging in place. Motion sensors, voice-activated systems, and monitoring devices can provide peace of mind to both the seniors and their families. These tools allow seniors to live more independently while ensuring that any emergencies are addressed quickly. 

In both of the above, simplicity is key. Speak to your client and their support network to ensure any additions enrich rather than complicate their living situation.

6. Financial Management and Avoiding Scams

Many high-net-worth seniors have proudly managed their finances and payroll for decades, but cognitive decline can leave them vulnerable to scams. Having someone trustworthy to manage these aspects of their lives—whether it’s you as estate manager, a family member, or a trusted financial advisor—is crucial.

One of the roles I often take on for my clients is acting as a liaison between the family office and the senior. This ensures that their finances are in good hands, and any unusual activity is caught early on.

7. Healthcare Support and Long-Term Planning

While no one likes to think too far ahead, planning for potential health changes is critical. This might mean coordinating regular doctor’s visits, managing medications, or arranging for in-home healthcare services. Working closely with medical professionals can help anticipate future needs and ensure that seniors have the care they need as they continue to age at home.

Final Thoughts

Aging in place can be a game-changer for high-net-worth seniors, allowing them to maintain their independence and stay in the homes they’ve cherished for years. It may be the best value your clients can get from investing in your services. However, more than any other, it requires thoughtful planning, the right team, and ongoing adjustments as needs evolve.

From securing the right staff to modifying homes and managing day-to-day tasks, the goal is to create a supportive, comfortable environment where seniors can thrive. 

Don’t be afraid to start the conversation with your clients, whether they have aging loved ones or are seniors themselves. The long-term value you can unlock for both your client and your business is worth the unique care and effort it entails.