Its that time of year where we all make New Years resolutions. We want to lose weight, exercize more, spend less money etc. While most of us fail miserably (myself included), there is something we can do that can have as meaningful an impact as quitting smoking or losing 50 lbs. – talk to your parents about their future!
Taking the lead in a conversation with elderly parents about their financial and health care future isn’t easy but has important ramifications. We see families in our practice regularly, who thought things were in order until a crisis occurred. All of a sudden there is no one who can legally sign a check to pay the mortgage, doctor bills or the nursing home. The bank won’t talk to you and the doctors want decisions made. You only option is an expensive court proceeding. All of this can be prevented.
Read the following article for tips to make the conversation easier.