Caught in the Middle

As a parent who is busy raising a family, and as the child of an aging parent, you carry a lot of responsibility! To avoid feeling overwhelmed, take action by creating your own family’s estate plan and starting the conversation with your parents to learn what documents they have in place

Be sure your own family’s LifeMap™ is set. Then, start conversations with your siblings and your parents.

We recommend tackling the following topics:

Personal:

• Gather everyone who needs to be a part of the conversation.
• Open up dialogue.
• Share your concerns, but be sure to listen to your parent’s perspective.
• Get everyone on the same page regarding communication and developing a plan.

NOTE: Before taking in a parent, be sure to complete a “caretaker agreement.”

Housing:

• Raising the topic of housing can be a hard conversation, but it is a necessary one to have.
• Have an honest discussion about your loved one’s ability to stay in their home, the location of family members to offer assistance, long-term care options and preferences.

NOTE: It is better for all involved to have these conversations as part of planning than waiting until crisis necessitates decisions.

Medical:

• End-of-life issues are critically important to address. Having open conversations with your parents will allow you to honor your parents wishes and will provide you peace in knowing that they will be cared for.

Financial:

• Some questions to ask: Do(es) your parent(s) have a financial advisor? What kinds of insurance? Where are important documents kept? Have they established an estate plan? Is it up to date?