Adult children of aging Connecticut parents often find themselves taking on the role of caregiver and adviser. If you find yourself in this situation, it may seem overwhelming and stressful. Regular communication with siblings can help ensure that everyone feels involved and included in this difficult process. Among other things, it is important for the primary caregiver to fully understand the kind of elder care financial management CT seniors need.
Taking a leadership role in the family dynamic can be awkward, especially when you have to ask for information formerly restricted to the parents. Done carefully and early in the process, you can navigate sensitive subjects like finances, assets, and income sources reasonably and thoughtfully. Many parents initiate these conversations themselves realizing the importance of providing things like information regarding insurance for long term assistance and the resources they have to cover it.
What you want for parents is important, but what they want for themselves is even more so. Many seniors get angry and frightened at any mention of them moving from their home and the neighborhood they know. Others like the idea of relocating to a retirement community or having the conveniences and safety associated with assisted living. You should strike a sensible balance between what you think best and your parents wishes.
Unless you are very familiar with estate planning and tax laws, you could benefit from the services of an experienced financial adviser. This individual will know how best to protect your parents' assets and, if necessary, the most efficient way to liquidate them. A professional can advise you on the process of transferring title out of a parent's name in a way that is both legal and ethical.
Finding an experienced lawyer during this time, is also a good idea. This professional can help you make sure wills are current and legally documented. You may need a full or limited power of attorney to enable to you represent your parents on their behalf. Health documents like living wills and health directives must also be put in place if not already handled.
Knowing where legal documents are located will make it much easier for you to help your parents in an emergency. You should have access to their medical records, and to do that, your parents will have to name you on all the appropriate doctor and hospital forms. Many seniors do their banking and other transactions online, and you need a list of all their passwords for your files.
While you are in the midst of making financial decisions for and with your parents, you may forget to consider your own. There might be a lot of incidental out of pocket expenses you incur in your role as caregiver. If possible, you should meet with other siblings to come up with a fair solution to this issue.
Most aging parents want to be as independent as possible for as long as possible. As their child and the primary caregiver, you may have to walk a fine line. You will have to learn how to respectfully do as much or as little as they need and want.
Taking a leadership role in the family dynamic can be awkward, especially when you have to ask for information formerly restricted to the parents. Done carefully and early in the process, you can navigate sensitive subjects like finances, assets, and income sources reasonably and thoughtfully. Many parents initiate these conversations themselves realizing the importance of providing things like information regarding insurance for long term assistance and the resources they have to cover it.
What you want for parents is important, but what they want for themselves is even more so. Many seniors get angry and frightened at any mention of them moving from their home and the neighborhood they know. Others like the idea of relocating to a retirement community or having the conveniences and safety associated with assisted living. You should strike a sensible balance between what you think best and your parents wishes.
Unless you are very familiar with estate planning and tax laws, you could benefit from the services of an experienced financial adviser. This individual will know how best to protect your parents' assets and, if necessary, the most efficient way to liquidate them. A professional can advise you on the process of transferring title out of a parent's name in a way that is both legal and ethical.
Finding an experienced lawyer during this time, is also a good idea. This professional can help you make sure wills are current and legally documented. You may need a full or limited power of attorney to enable to you represent your parents on their behalf. Health documents like living wills and health directives must also be put in place if not already handled.
Knowing where legal documents are located will make it much easier for you to help your parents in an emergency. You should have access to their medical records, and to do that, your parents will have to name you on all the appropriate doctor and hospital forms. Many seniors do their banking and other transactions online, and you need a list of all their passwords for your files.
While you are in the midst of making financial decisions for and with your parents, you may forget to consider your own. There might be a lot of incidental out of pocket expenses you incur in your role as caregiver. If possible, you should meet with other siblings to come up with a fair solution to this issue.
Most aging parents want to be as independent as possible for as long as possible. As their child and the primary caregiver, you may have to walk a fine line. You will have to learn how to respectfully do as much or as little as they need and want.
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