Depending on your relationship, it may be uncomfortable to approach your aging parents about their end-of-life choices, but do not put off his conversation. As our parents age it is critical we foster open communication on who they want to take care of them, how care should be provided, and the legacy they wish to leave.
Your parents will almost certainly have ideas and wishes to fulfill. You can help them ensure their goals are met but also can take the time to make sure they are prepared for an uncertain long-term care future.
When it comes to Florida estate planning, there’s a lot to consider. Offering support could be exactly what the situation needs. Whatever the case, starting the conversation is step one. This is only the start though. Your goal is to ultimately plan for how they will find good care should they need it and know how they will be able to afford it.
The earlier you can have this conversation the better. Let us share one way to break the ice:
“Mom, or Dad, would it be okay if we talked for a minute? I feel like it’d irresponsible of me if I didn’t ask you about your estate plan and future health decisions?”
Simply put, an estate plan includes anything the aging person owns and it puts into writing how they would like to distribute any available assets after they pass. It also can include a financial power of attorney and a healthcare power of attorney. Both are documents allowing a named individual to make financial and healthcare decisions on the person’s behalf should he or she become incapacitated.
Consider continuing the conversation with this:
“Your estate plan is important to me, but it is more than that. I am worried that you may one day need long-term care. I think we need to start talking now about how we will find good care and be able to afford it.”
This conversation may catch your parents by surprise. Reassure them. Let them know that you are not trying to pressure them into making an immediate decision but you do want to open the conversation. Discuss with them how this type of care, which could become necessary in the future, can be expensive, and involve considerable inconveniences during an emotionally difficult period.
Share with them that if they do not have Florida estate planning documents that contemplate future elder care needs, much of the planning they need may not be possible. In fact, they may be at risk of not being able to save any of their assets from being depleted on the cost of a nursing home. Encourage them though that together you can create a plan with their elder care attorney to ensure that they are provided for under any potential future circumstance.
It may not be easy to talk to your aging parents about their estate planning and elder care needs, but with love and support it can alleviate worry and bring about peace of mind. Consider it an opportunity to be of service to your loved ones who once took care of you. Do not hesitate to ask us your questions.