April 2022

April 28, 2022
Sensitive topics like aging, elder care and loss of independence can feel uncomfortable to discuss. Watching your parents get older and worrying about their well-being can also feel uncomfortable. Showing your concern for your parents and suggesting planning strategies could open the door for a beneficial discussion. Starting a conversation at the right time and with the right intent might make all the difference in how your parents receive the information. Do your research Inadequate preparation before you mention elder care can backfire miserably. Even if you mean well, not taking the time to understand your parents’ situation might appear as though you only care about yourself and your well-being. Prior to starting a discussion, pay attention to your parents’ circumstances. Some things to consider include the following: What assets do they have? Have they mentioned wanting or needing extra help? Does either parent have a history of familial health problems? Have they expressed disinterest in life-saving measures? When you begin the discussion, express your concern for both parents’ well-being. Tell them that out of a desire to care for them in the manner they wish, you would like to coordinate a care plan. A gentle, honest and sincere approach could improve the reception of the information you share. Highlight the benefits With the progression of generations, your parents will age with scores of other people. In fact, the U.S. Census projects a higher number of deaths between 2020 and 2030 as a majority of baby boomers hit age 65+. You can talk with your parents about the benefits of having an elder care plan in place. Not only will they have peace of mind regarding their care, but they can have control in making decisions about their future.  Telling your parents about the benefits of their choice to plan now may encourage them to start. Your support along the way could continue to incentivize them to keep things updated throughout the years.
April 14, 2022
It feels like an honor when asked to be the executor of a will, but it also comes with a lot of responsibility. If you are not ready for the responsibility to handle your loved one’s estate, it can become more daunting than necessary. According to AARP, preparing to become an executor should begin with a conversation. Talk with the person who wrote the will first to ensure you have all of the details of his or her wishes. Stay organized as an executor Before you handle the estate, you need to have a system of organization. You have to settle debts, stop Social Security payments, sell or maintain a family home, and settle financial accounts. Create a meticulous to-do list and ensure you have documents counting for all debts and assets. Be ready to work with the family Sometimes, conflicts arise. In most cases, the executor is also part of the family. However, this does not stop other family members from fighting. You may have siblings or other relatives angry or upset with the situation. They may feel hesitant to trust you as the executor. You need to stay transparent and know how to deescalate a situation. Be careful when distributing assets. You may expect to see arguing over expensive items, but more often than not, arguments occur because of sentimental items. You need to have a fair system in place to avoid arguments.  Make sure the heirs know that it takes time to settle the estate. You have to ensure that you pay all bills and other debts before you can disperse the other assets.
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