Helping an Aging Parent

Book an Initial Call

Helping an Aging Parent

Understanding the transitions accompanying aging, from physical and mental concerns to legal and financial matters, can help improve the aging process for parents and their adult children. Preparing for some difficult conversations and knowing what tasks need to be accomplished is step one, according to the recent article from Harlem World Magazine, “How to Prepare For Your Parent Ageing.”

Open and honest conversations about the implications of aging are more likely to happen if they occur regularly, even on an informal basis. Having these talks early can lighten the stress and ensure that everyone is on the same page. Preparing for the future while parents are still well will make it easier for everyone.

A knowledge of wishes and preferences for care when they can’t take care of themselves is one of the more challenging conversations. However, you’ll want to see if they would wish to have a family caregiver or a home health care aid or would prefer to move to an assisted living facility. Finances need to be discussed. How will care be paid for, and what government programs are they eligible for?

It’s best to take care of their estate planning while they are well. If their will hasn’t been revised in decades, this should be taken care of sooner rather than later. Everyone needs to have a will, power of attorney, advanced directive and a health care proxy.

The will outlines how they’d want property and assets to be divided after they pass.

A Power of Attorney gives a designated person the legal authority to handle any financial or legal matters on their behalf if they become incapacitated. This is especially important for aging adults. Without a Power of Attorney, the family will need to go to court to obtain a guardianship, which is stressful, costly and time-consuming.

An advanced directive specifies the type of medical treatment they want to receive if they cannot communicate their wishes. This may include a feeding tube, heart and lung machine, or other means of maintaining life. They can also express their wishes to refuse care in this and several other documents.

Care for an aging parent can be expensive. Review their insurance policies, retirement accounts, long-term care insurance, Social Security benefits and any other sources of income. This information will help you plan for their long-term care, wherever it occurs.

Consider their health realistically. Chronic illnesses, like heart disease or diabetes, become more challenging with age and need to be managed consistently. Ensure that your parents have regular checkups with their healthcare providers and keep their prescriptions current.

It’s best to meet with an estate planning attorney to be sure these documents are prepared properly. Laws vary by state, so you’ll want to meet with a local attorney to be sure the documents are valid.

Remember it’s a responsibility and a privilege to care for those who once cared for us. Stay patient, work with experienced professionals, including an estate planning attorney, and you’ll be able to help your loved ones feel valued and loved.

Reference: Harlem World Magazine (Nov. 24, 2023) “How to Prepare For Your Parent Ageing”

Book an
Initial Visit

Book an
Initial Visit

Schedule a time to speak with an attorney at Nickerson Law Group
Book an Initial Visit

Watch Our
Videos

Watch Our
Videos

Our videos cover Estate Planning, Estate Administration, Asset Protection, Wealth Preservation, Special Needs Planning, and more.
Learn More

Read Our
Blog

Read Our
Blog

Our blog on Estate Planning, Probate, Asset Protection, Wealth Preservation, Special Needs Planning, and more.
Read Our Blog
Austin office:

3801 North Capital of Texas Highway
Suite J220
Austin, TX 78746

Contact Us
Integrity Marketing Solutions - Estate Planning Marketing
Powered by
cross