Have you noticed that your parents are beginning to slow down, not as active as they once were and seem to do less and less? Do they live nearby? Do you routinely check in with them? Have you taken any time to talk about their future plans? As your parents age and while they have the capacity to make decisions, now might be the right time to talk about their future.
Talking to your parents about their future should be calm and non-confrontational. You may find that your parents have already begun to think about their future. Asking thought provoking questions about the future is a start. We have some questions you can use to start the conversation.
1. Do your parents have an estate plan? Have they met with a Connecticut estate planning attorney and created their last will and testament? Do they have any powers of attorney to help them if they were to suddenly become incapacitated due to an accident or illness? Do they have a living will? If they have all these documents, good. If they do not have any estate planning documents, you should encourage them to start now.
2. What about long-term care? As your parents age, what would they want to do if they needed assistance with daily tasks, such as keeping up with necessary medications, personal hygiene, or home-related responsibilities? Would they prefer in-home care or moving to an assisted-living facility? How would they pay for the care or facility? Do they have long-term care insurance? Will you need to help them look for other ways to pay? Now is the time for this planning, and again, your Connecticut estate planning attorney can help with long-term care planning.
3. When creating their documents, who will be in charge? Be sure that your parents talk with their attorney in deciding who should be in charge of their finances and make healthcare decisions for them if they become incapacitated. Their Connecticut estate planning attorney can help them make wise choices. Making these decisions now will help your parents, you and your family cope so much better when any incapacity occurs.
4. Do your parents have a team? Your parents should have a team of qualified legal and financial professionals to help them. A qualified Connecticut estate planning attorney is essential, as well as, a financial planner and CPA. Working with qualified legal and financial professionals can help ensure that the goals, wishes and legacy of your aging parents are followed.
We know this blog may raise more questions than it answers. We want you not to wait to learn more about this critical issue facing all of us, but most importantly Connecticut seniors. Remember, being prepared is the best defense you can have in place. The Northeast Law Center practices law in many Connecticut counties including Hartford, New London, Tolland and Windham. We encourage you to contact us and schedule a meeting.