If you are an adult child of an elderly parent, it is essential to talk with them about estate planning. This includes discussing their wishes for end-of-life care and what will happen to their finances and possessions after they die.
It can be difficult to broach the topic, but it is best to address it while your parents can still make decisions about their future.
Talking to your parents about estate planning can be complex and emotionally charged. Here are a few tips to help make the conversation go smoothly:
- Try to have this conversation when both of you feel calm and relaxed. It may be helpful to schedule a time in advance so everyone is prepared.
- Be respectful and avoid talking down to your parents. They will likely be very sensitive about this topic and will appreciate a considerate approach.
- Recommend they have a consultation with experienced estate planners to see what the process will entail.
The importance of estate planning
- Many people dread the prospect of discussing estate planning with their elderly parents. However, it is a meaningful conversation because it can help ensure that your parent’s assets are protected and that their wishes are carried out after their death.
- There are a variety of estate planning documents that your elderly parent should consider, but they should at least have a will in place along with powers of attorney for their medical and financial needs.
Having this discussion now will ensure your loved ones’ wishes are honored and that their final days will be peaceful and hassle-free.