Speaking on the aging process and finances, Hance discussed the importance of conversations between adult children and their aging parents in advance of a catastrophic event.

"This is a very difficult subject," said Hance. "because it forces older people to face their own mortality and potential loss of autonomy."

"Timing is everything. I don't suggest that these issues be discussed at Thanksgiving Dinner. I recommend that adult children choose a time when a specific event, for example, something in a newspaper article or a neighbor's problems bring the subject to the forefront."

Hance told viewers that there are a number of things that adult children should know and have copies of for future reference. These include: insurance policies and contract numbers, Social Security numbers, wills and living wills, powers of attorney, information on any trusts, deeds to property, income sources, expenses and burial plans.

These are all crucial when forming a financial strategy for elders' future care needs, she said.

As NBC Host Matt Lauer put it, "In times of crisis, you don't want to have to scavange through the house looking for documents."

Hance is a paralegal and has been a local eldercare and lifecare specialist for more than 10 years. She is a resident of Farmington Woods, Avon.