Putting your Aging Parents' Wishes First
As your parents grow older, it may be time to talk with them about financial and aging issues.
Position these conversations to honor their plans and understand their wishes, so their affairs will be taken care of as they would like.
First, consider health care. Find out if they have limits on medical care and appropriate legal documents, like a health care power of attorney.
Another subject: independence. Have they thought about the need for long-term care?
Also, ask if they have updated wills, revocable trusts and durable powers of attorney, so a trusted person can make financial decisions if they become incapacitated.
Finally, have they left instructions in their will about their funeral preferences?
These are sensitive subjects, but you can get help from other family members or a trusted legal or financial professional.
By raising these issues with your parents, you can help avoid unpleasant surprises — and maybe even create some peace of mind for your family.
This content was provided by Edward Jones for use by Alan Bell. your Edward Jones financial advisor at 222 Great Road Suite 8 Littleton, MA 01460. 978-486-1059.
Member SIPC
Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.
Position these conversations to honor their plans and understand their wishes, so their affairs will be taken care of as they would like.
First, consider health care. Find out if they have limits on medical care and appropriate legal documents, like a health care power of attorney.
Another subject: independence. Have they thought about the need for long-term care?
Also, ask if they have updated wills, revocable trusts and durable powers of attorney, so a trusted person can make financial decisions if they become incapacitated.
Finally, have they left instructions in their will about their funeral preferences?
These are sensitive subjects, but you can get help from other family members or a trusted legal or financial professional.
By raising these issues with your parents, you can help avoid unpleasant surprises — and maybe even create some peace of mind for your family.
This content was provided by Edward Jones for use by Alan Bell. your Edward Jones financial advisor at 222 Great Road Suite 8 Littleton, MA 01460. 978-486-1059.
Member SIPC
Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.