PLANNING EFFECTIVELY FOR YOUR AGING PARENTS

Will you be able to decide how it will be possible for your parents to get long term care? Can you take care of your siblings and preserve sanity at the same time? What you may face in your future life lies on these questions. These decisions are vital in your life. You may find them troublesome too. Often we come across situations when we care for our parents and children simultaneously and thus we represent a ‘sandwich generation’. Our society is gradually becoming a very mobile society with no support from community and family or with no families in shouting distance from each other. We have heard of incidents where siblings keep on arguing among each other regarding sharing their responsibilities in parent care.

 

We, often, don’t feel like discussing about our parent’s long term care. Such topics are avoided. But, we start feeling uncomfortable as we see our parents aging with time. In many families, long term care is considered to be the biggest unfounded liability. One and a half million seniors are reported staying in nursing homes in a study done by the Centers for Disease Control in 1997. Many things need to be considered while talking about long term care. There are adult day cares, community care, life care facilities, assisted-living care, home health care, etc. They have different disadvantages and advantages too. The charge of taking care of persistent medical conditions in elderly persons also involves tremendous financial strain. So you better start thinking about this soon. Start taking actions too.

 

Some suggestions are given below:

 

• Know your parents requirements.

 

• A will has to be completed so encourage them to do so.

 

• Help in selling any possessions with relatives

 

• Distribute property among siblings to avoid disputes

 

• Try to be optimist amidst family adversity

 

• Family finances need an open discussion.

 

• Find how you would care give.

 

• Get legal and financial helps from professionals

 

• Try to contribute as much as possible

 

Our parents should live with fulfillment and dignity and this requires a good planning. Proper management of long term care for our parents is always an important issue. You must try to handle related issues carefully. Taking care of our elderly is a blessed duty and even if you are overworked don’t ignore your duty. Clarify your doubts. Take decisions now. Be happy again. We should give our parents the best things in life. So, let us make the first move.