If you are trying to take care of young children, while at the same time caring for aging parents, you know exactly how difficult it can be.
Although this might be hard to do, talking with your parents about estate planning will make life easier on you, as well as on the rest of your family. This isnt the easiest conversation to have with your parents, but it is a necessary one. Not only will this help your family during the difficult time after your parents have passed, but it will also be a relief to them to have their affairs in order.
When you decide that it is time to talk to your parents about their estate plan, what should you say?
Ask them if they are okay with their financial situation. If they seem unsure you might ask them if they would like the assistance of a financial planner.
Find out if they have any type of estate plan in place.
Find out who it is they want to handle their financial affairs if they cannot do it themselves. You will also want to ask your parents what type of medical intervention they want if they become ill and unable to convey their wishes.
Ask your parents how much coverage they have under their current health insurance plan. It may be necessary to increase that coverage with a second policy.
Depending on the age of your parents, ask if they need any modifications to their home so that they can continue living independently. Your parent might not want to worry you with increasing mobility problems they are having, so ask directly.
Some of the more difficult questions will include asking them about any special funeral arrangements that they might want, as well as encouraging them to get their legal documents in order.
Death is a difficult subject for most people, so be prepared for this. Try not to approach the subject in a way that might hurt or offend your parents. Bring it up in casual conversation. One method of doing this is to start by talking to them about your own estate plan and other arrangements you are making for yourself.
About the Author:
Geoff Garrett is the Owner & Attorney at Law at Byrd Garrett PLLC in Seattle, WA. For more information on estate plan and other estate planning services, visit our website.
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