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.