Taking care of parents as they become frail is a daunting task for children and other family members, but it can also be a time to reminisce about joyful memories and prepare for the future. This might involve responsibilities for caregiving, housing your ageing parents, and perhaps legal duties. If you are a caregiver to an elderly loved one, just know that you, too, have support.
Whether your ageing parent or loved one needs help for the first time or you are planning, it is important to be ready. That may be securing other aspects of your life, such as ensuring all legal documents and the latest insurance policies are in place and providing medical help on speed dial. With this outline in mind, here are a few genuine approaches to consider as you plan your parent's destination and face the various decisions that may affect how they live with their family.
Family Conversation
Nobody wants to consider what will happen to their elderly parents. But suppose you are preparing for your parent's possible future needs. In that case, that is something all in the family should consider in the future because this can quickly be put off or even completely avoided: plan for a family conversation. Yikes — that is a topic best saved for when you are on the roof screaming about in summertime ice cream wars and not sequestered in mom's kitchen during some boring holiday. If the family cannot participate in person, schedule a conference call online so everyone can join.
This is a conversation with your parents about what kind of care they need or desire as they age. It does not have to be confrontational; it should be a more open discussion in their best interest. Where would they prefer to reside if they cannot live in their home alone? How will they pay for it all? And how do they feel about the way of life that these people are subjected to? What can the family do now to help them ease into feeling more comfortable or confident on their own?
Prepare your parents and siblings for the conversation, getting their feelings about it before they attend. It would help if you also considered your family dynamics and how that can play into or against the meeting. Try to anticipate the points of friction for a constructive and positive conversation.
What are living situation options?
No, this is different for everyone. Before you even begin to help mom or dad, consider your own time and interest in caregiving strategies—the funds available for paid assistance—and what kinds of actions would actually be useful and welcome. There are so many ways that you can provide care for your parents if they decide to remain at home with assistance. Daytime community programs that provide your parents with social support and medical care are also available. When it is necessary to transition them into assisted living or nursing care, there are mechanisms in place to properly vet the quality of care for your parent's safety and comfort.
Research Aging Care & Senior Housing Options
Your parents may be very spry and independent today, but their situation can change. Senior care can be catered to your family members in several ways. Here are some helpful definitions to start your search to help you and your family recognize the available care options and understand the differences between them.
In-Home Care
In-home care is an option that provides you with a measure of flexibility in locating your parents. Your family can also arrange in-home personal care that visits your parents weekly to help them bathe daily. They will have assistance dressing, meal preparation, and companionship if necessary, or around-the-clock care when your senior needs constant support and supervision. We recommend partnering with a good company and vetting references properly.
Memory Care
Memory care is designed for those who have Alzheimer's or another form of dementia and should be in a type of assisted living. These communities benefit from an assisted living setting but with staff trained to address behavioural changes associated with memory loss. Living in memory care will also ensure the safety of your loved ones, as they tend to wander and can get lost.
Your Home
Someone in your family may take care of the valued one at home. Please understand that this can be gratifying and well-meaning, but your role with a parent in care is reversed. This requires a level of emotional, physical, and financial fortitude that only some have.
Plan Financial & Legal Preparedness
This is one of the most important, if not the critical, steps in preparing for your parents' ageing. Taking care of these before they become problems can eliminate stress and make things more straightforward for you, your family, or other loved ones in the future. Below are some key actions to take:
Review and Update Legal Documents
Make sure your parents have all critical legal documents complete and current. This will include a will, power of attorney, and healthcare proxy. This way, when the time comes, and they are incapacitated to make decisions over their finances, healthcare, or estate—how it will be managed is clearly outlined in these documents.
Evaluate Insurances
Look at your parent's health, life, and long-term care insurance. Will their existing coverage fulfil future needs, or will they need more insurance? It is also important to consider purchasing life insurance for economic security and challenging care that will pay the costs of nursing or living in an assisted centre.
Get Your Financial Records in Order
Collect all financial papers, such as bank statements, investment accounts, and property deeds. These records will be incredibly helpful when you start managing your parent's finances and even handling their estate.
Strategize and Plan for Long-Term Care Costs
Know the amount of different care choices and learn how your parents will pay for them. Options include savings, investments, long-term care insurance, or government programs. Thinking ahead will save you the burden of stretching your budget too thin and, more importantly, guarantee they get proper care.
Talk Finances
Talk to your parents about their finances and what they want done with them. Discuss whether or not they may need help with certain daily tasks (e.g., paying bills, managing investments) and, if so, who will be running this side of things.
Consult with Financial Planners, Eldercare Attorneys, and Other Experts in Senior Care Planning
They can offer tremendous experience and knowledge to assist you in dealing with difficult financial problems and legal issues.
Taking care of these financial and legal matters during the early stages will help ensure that your parent's wishes are respected. You'll be able to focus on being there for them emotionally and physically as they age. By implementing these steps, you can plan for a more secure future for the whole family.
