My Parents Are Getting Older

Most of us feel invincible once we reach adulthood at age 18! However, dealing with an aging parent can often lead the smartest, most self-sufficient of us back into childhood as we watch our mother or father creep backwards in their ability to take care of themselves. Taking preventive measures early on in the process can help in handling the certain challenges we will face in dealing with an aging parent. Here are a few of the issues involved when dealing with elderly parents:

1) What are your legal rights and obligations? How do you help? Do you have to help?

2) Now that you have acted and have been appointed “the anointed one” with the responsibility, how do you get along with your siblings and other countervailing personalities?

  1. Sibling Rivalries “running amuck”;
  2. Dealing with differing opinions and ideas;
  3. Giving the information in an effective manner that is appealing to mom and dad/others;
  4. How not to go crazy, taking on a difficult job no one wanted.

3) How do we afford the plans we made?

  1. Using your parents’ assets;
  2. How do we find other assets?
  3. Do we want government assistance?
  4. Is there a way to save their hard earned funds?
  5. What is we run out of money?

4) Can our parents stay in their family home? If so, how do we make it safe?

  1. Can they stay?
  2. Should they stay?
  3. What tools can we find to help them/us?
  4. What happens if a disaster occurs?

If you are interested in the answers to these questions or would like to attend a seminar organized around these topics at your Group or Church meeting, contact us and hire an advocate who will put your mind at ease.  If you need help in determining how to broach this important subject with your parents, contact us to review “The Five Most Important Financial Questions To Ask Your Parent.”