eldercare

Talking To Your Parents While There is Still Time

Talking To Your Parents While There is Still Time

Many clients in their 50's and 60's are increasingly worried about the finances of their aging parents. This is especially true when it is difficult to predict interest income on investments. They often ask: 'How do I talk to them about their care and their finances?'

This topic raises many sensitive family dynamics including the adult child who is uncomfortable raising the topic with their parents and parents who are in denial or not comfortable discussing these personal care and financial issues with their children.

What if I Can't Look After My Affairs?

Clarke owned a small business that employed three other people besides him. He had sole signing authority on his business bank account, and personally had a joint mortgage on his home with his wife, Lois. His car was registered in his name only. Clarke was generous with gifts on special occasions and holidays for his children and his wife, and supported several charities on a regular basis.

Eldercare

Eldercare is a journey. The first step is gathering information.

Care giving for an aging parent, spouse, domestic partner or close friend presents tough challenges...especially when a crisis hits and responsibility descends upon you suddenly.

Maybe your mother has fallen...perhaps due to instability caused by prescription drug side effects...and is hospitalized with a broken hip. Or your spouse has wandered off and become lost several times. Or a long-time friend and mentor has lost a lot of weight and rarely seems to leave home.

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