Far too many people put off estate planning until it’s too late. This can leave you concerned about your parents’ well-being and their ability to dictate not only the distribution of their assets, but also their medical care. And this latter point is considerable given that there’s a significant chance that your parents will need some sort of long-term care at some point in their lives. If they inadequately plan for it, then their entire estate can be gobbled up by long-term care costs, which can run counter to their wishes and leave their heirs without the financial support that was intended.
So, if you’re concerned about your parents’ estate plan and what they’ve done to ready themselves for potential long-term care, then now is the time to start facilitating a conversation about long-term care needs. We know that can be difficult to think about, and figuring out the best way to approach the matter can be tricky, but we have some tips that might help you along the way.
Tips for talking to your parents about long-term care planning
No one wants to think about the decline of their health, particularly when it could spur conversations of long-term care or death. But your parents will feel like a burden is lifted from their shoulders once they establish an effective plan to tackle long-term care costs. To assist them in that regard, consider utilizing the following tips:
- Engage early: It’s a lot easier to talk about long-term care planning when you do so while your parents are still healthy. They’ll be more receptive to the idea, and they’ll have more time to consider their options, which may spur them to talk about it more. So, the sooner you can start the discussion the better.
- Loop in other family members: You don’t want anyone to think that you’re coercing your parents to make certain decisions. To avoid that perception, include other family members in the discussion. This can also give you and your parents additional support to tackle such a weighty topic.
- Identify concerns: Your parents might struggle to see why it’s so important to talk about potential long-term care. So, you may need to identify some concerns to fuel the conversation. This can include your parents’ overall safety, their ability to manage themselves on a daily basis and the costs associated with long-term care.
- Understand their desire to keep control: No one wants to relinquish control over their lives. But your parents might feel like that’s exactly what’s happening when you start to discuss long-term care planning with them. So, consider discussing options that allow your parents to retain some independence, if possible, that way they have a strong understanding of what long-term care has to offer them in light of their priorities.
- Educate yourself: To engage in meaningful dialogue with your parents, secure as much information about long-term care and the planning process as possible. This will allow your parents to see you as a valuable resource on the topic, which can help facilitate the conversation and move your parents to make informed decisions that they feel are in their best interests.
Help your parents create the estate plan they need
Ultimately, you have to listen closely to what your parents want out of their estate plan. By doing so, you can help direct them toward the information and resources they need. This may include the assistance of an estate planning attorney who can ensure that their long-term care and other estate planning wishes are brought into reality. To learn more about how an estate planning attorney may be able to assist your parents, please continue to review our website.