Some topics are important to discuss with your parents before it’s too late
It might be a very uncomfortable conversation to have, but some things should be discussed when it comes to your elderly parents. There are some questions that you should ask your aging parents before it is too late, and they are listed below.
Will
The first important question to ask, is about their will and if they have one. Because your parents are getting older, it is important to determine how they want to divide their belongings and property. According to Christina Lesher, Houston-based elder-law attorney, it is expensive to have to let the court decide who gets what. When people die and they don’t have a will, the judge will divide the assets and Lesher told Real Simple that it “… can cost thousands of dollars and take months. Even if the deceased told a loved one her wishes before she died, a verbal statement won’t hold up in court. The judge will base their ruling on laws and legal precedents of the state.”
About the costs of long-term care
If your parents have to move to a long-term facility, the costs are not covered by insurance. And long-term care is expensive. According to one study by the U.S. Department of Health and Human Services have estimated that the costs for extended home assistance or nursing homes could be around $140,000. So, it could be helpful to figure out whether or not your parents are insured for long-term care.
Advance health-care directives
According to Lesher, it is important to discuss these advance health-care directives before a crisis occurs. She told Real Simple: “It’s difficult to make decisions in a crisis, and memories about conversations differ. Having clear, written instructions protect families from becoming embroiled in arguments or, even worse, lawsuits.” So, talk to your family about advance health-care directives. These include: a living will (instructions on life-sustaining measures), a healthy proxy (appointing someone to make decisions about the person’s health), and a HIPPA release (access to medical records when needed for insurance).
If you have aging parents, it would help to discuss these topics before you would have to make any difficult decisions.
Read more: This is how you live to be 100, according to experts
Source: Real Simple | Image: Unsplash, Rusty Watson