Adult children of aging Connecticut parents often find themselves taking on the role of caregiver and adviser. If you find yourself in this situation, it may seem overwhelming and stressful. Regular communication with siblings can help ensure that everyone feels involved and included in this difficult process. Among other things, it is important for the primary caregiver to fully understand the kind of elder care financial management CT seniors need.
Taking a leadership role in the family dynamic can be awkward, especially when you have to ask for information formerly restricted to the parents. Done carefully and early in the process, you can navigate sensitive subjects like finances, assets, and income sources reasonably and thoughtfully. Many parents initiate these conversations themselves realizing the importance of providing things like information regarding insurance for long term assistance and the resources they have to cover it.
What you want for parents is important, but what they want for themselves is even more so. Many seniors get angry and frightened at any mention of them moving from their home and the neighborhood they know. Others like the idea of relocating to a retirement community or having the conveniences and safety associated with assisted living. You should strike a sensible balance between what you think best and your parents wishes.
It can be very difficult and confusing to sift through all the laws, regulations and restrictions associated with senior finances and management. Finding a good financial adviser can make all the difference. If you anticipate your loved ones may need Medicaid to cover the cost of long term assistance, an adviser can help you with transferring assets and liquidating others to pay for some of the costs.
An attorney who deals with senior citizen issues can also be a great resource. This professional can review legal documents such as wills, deeds, and titles to make sure they are in order. If you believe that a power of attorney will be necessary at some point, an experienced lawyer can help you fill out the forms and file the paperwork.
Knowing where legal documents are located will make it much easier for you to help your parents in an emergency. You should have access to their medical records, and to do that, your parents will have to name you on all the appropriate doctor and hospital forms. Many seniors do their banking and other transactions online, and you need a list of all their passwords for your files.
While you are in the midst of making financial decisions for and with your parents, you may forget to consider your own. There might be a lot of incidental out of pocket expenses you incur in your role as caregiver. If possible, you should meet with other siblings to come up with a fair solution to this issue.
Most aging parents want to be as independent as possible for as long as possible. As their child and the primary caregiver, you may have to walk a fine line. You will have to learn how to respectfully do as much or as little as they need and want.
Taking a leadership role in the family dynamic can be awkward, especially when you have to ask for information formerly restricted to the parents. Done carefully and early in the process, you can navigate sensitive subjects like finances, assets, and income sources reasonably and thoughtfully. Many parents initiate these conversations themselves realizing the importance of providing things like information regarding insurance for long term assistance and the resources they have to cover it.
What you want for parents is important, but what they want for themselves is even more so. Many seniors get angry and frightened at any mention of them moving from their home and the neighborhood they know. Others like the idea of relocating to a retirement community or having the conveniences and safety associated with assisted living. You should strike a sensible balance between what you think best and your parents wishes.
It can be very difficult and confusing to sift through all the laws, regulations and restrictions associated with senior finances and management. Finding a good financial adviser can make all the difference. If you anticipate your loved ones may need Medicaid to cover the cost of long term assistance, an adviser can help you with transferring assets and liquidating others to pay for some of the costs.
An attorney who deals with senior citizen issues can also be a great resource. This professional can review legal documents such as wills, deeds, and titles to make sure they are in order. If you believe that a power of attorney will be necessary at some point, an experienced lawyer can help you fill out the forms and file the paperwork.
Knowing where legal documents are located will make it much easier for you to help your parents in an emergency. You should have access to their medical records, and to do that, your parents will have to name you on all the appropriate doctor and hospital forms. Many seniors do their banking and other transactions online, and you need a list of all their passwords for your files.
While you are in the midst of making financial decisions for and with your parents, you may forget to consider your own. There might be a lot of incidental out of pocket expenses you incur in your role as caregiver. If possible, you should meet with other siblings to come up with a fair solution to this issue.
Most aging parents want to be as independent as possible for as long as possible. As their child and the primary caregiver, you may have to walk a fine line. You will have to learn how to respectfully do as much or as little as they need and want.
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