It can be difficult, but there are important topics you should talk about with your parents before it’s too late. These conversations may feel uncomfortable, but it’s crucial to ask your aging parents the following questions.
As your parents get older, it’s important to know if they have a will. If they pass away without a will, the court will decide how to divide their belongings and property, which can be costly and time-consuming. Even if your loved one expressed their wishes verbally, it won’t be legally binding. The judge will base their decision on state laws and legal precedents.
About The Costs Of Long-term Care
If your parents need to move to a long-term care facility, insurance won’t cover the expenses, and it can be quite expensive. Studies suggest that extended home assistance or nursing homes can cost around $140,000. Therefore, it’s a good idea to check if your parents have long-term care insurance.
Advance Health-care Directives
Discussing advance health-care directives before a crisis occurs is crucial. Having clear, written instructions can prevent family arguments or even lawsuits. These directives include a living will (instructions on life-sustaining measures), a health proxy (appointing someone to make health decisions), and a HIPPA release (access to medical records for insurance purposes).
It’s helpful to address these topics with your aging parents ahead of time to avoid difficult decisions later on.
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