Helping you care for aging parents.

FAI-Aging Parents

It’s troubling to see our parents grow older and require more assistance. They may be determined to retain their independence while you’re focused on keeping them safe and protected. There are so many things to take into consideration and so many decisions to be made. Where can you turn for help?

Rely on FAI to provide sound proactive financial guidance and estate planning, as well as assistance in locating reputable in-home care solutions, retirement communities, assisted living facilities, or skilled nursing care as needed.

granddaughter and grandmother

Helping you care for aging parents.

While there are many things in life we can control, there are many more we can’t. One of those uncontrollable and inevitable transitions is the aging process. When we’re young, our parents provide us with love, guidance, and support. The aging paradigm eventually shifts this responsibility from our parents to us. Caring for our aging parents is something we hope we can handle when the time comes, but it’s the last thing we want to think about and it can be challenging to tackle.  Putting a plan in place now will make caring for your parents easier down the road, and FAI can help. Our compassionate team has guided hundreds of individuals and families in evaluating and implementing aging options that suit their unique needs.

Healthcare issues take the forefront.

As our parents grow older, negative health events become more likely. They may be gradual or sudden, but the impact means life will never be the same for them or for you.  If your parents have reached the age of 70, it’s time to have a conversation with them about what to do should their mental or physical condition begin to decline. What are their wishes? Are legal documents in place to help coordinate their medical care? Often, families delay this conversation until a triggering health event occurs. Adult children are then left to make difficult decisions with little or no information about what their parents want or what their financial situation can support. Preparing in advance for the inevitable health changes that come with aging make it far more manageable for everyone involved.

Let’s talk about finances.

Money talk with family members can be difficult, and more so if the topic has never been discussed before.  Parents may feel ill at ease talking about their financial situation, particularly if they think they are not as prepared as they would like to be. At some point, it’s likely that your parents will need help managing their finances. How will you know when that time has come?  Have they designated a power of attorney? Do they have wills and estate plans in place?  Having the “money conversation” and creating a strategy before a crisis occurs will reduce your stress in the future.

son and father discussing dementia

Planning for future care.

Depending on your parents’ needs, proper planning may enable them to continue living independently longer. Is aging in place an option? If so, what kinds of age-proofing adjustments will need to be made to their home and what are the costs? Even if aging in place is the plan, your parents' current home may prove too costly to maintain or impractical to modify as their needs change. What types of living arrangements are available that suit their financial constraints? Do they have long-term care insurance? With so many possibilities and so much as stake, it’s smart to think ahead.

FAI can help you navigate the many transitions that come with caring for your aging loved ones. Our seasoned professionals have decades of experience addressing the senior care and financial issues that may affect you or your parents. Rely on us to provide sound, proactive financial guidance and estate planning, as well as assistance in locating reputable in-home care solutions, retirement communities, assisted living facilities, or skilled nursing care as needed

If you would like to discuss your needs regarding , please scroll down to complete our brief initial inquiry form and one of our senior advisors will contact you. Or if you prefer, feel free to call us at 410-715-9200. We look forward to speaking with you!

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Mark Stinson

“Having experienced the loss of my mother and serving as the primary caregiver for my father, I can truly relate to the challenges adult children face as our parents age. I am happy to share what I’ve learned, and be a trusted sounding board to help you and your family make the best decisions for your specific situation. Please don’t hestitate to contact me with your questions.”

Mark Stinson, Senior Advisor
MStinson@faiwealth.com
410-715-9200

What to Do With Your Aging Parents' Stuff

What to do with your aging parents' stuff

According to the 2014 United States census report, more than 20 percent of America’s population will be age 65 or older by 2030. As these older adults start downsizing or moving to retirement communities and assisted living facilities, the question of what to do with household possessions and cherished keepsakes looms large in many families.

Often, the adult children don’t want these items, while their aging parents dread parting with them. So, in a quandary familiar to many of us, delicate conversations ensue about how to dispose of their parents’ beloved “junk”.

Read More

Recent News

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Upcoming Events

Upcoming Events

Anirban After Dark

Anirban After Dark

10/25/2017 7:00:00 PM EDT
FAI Wealth Management & Davis, Agnor, Rapaport & Skalny present Anirban After ...

Dessert & Discussion: Long-Term Care

Dessert & Discussion: Long-Term Care

11/2/2017 7:00:00 PM EDT
Please join us for Dessert and Discussion on Long Term ...