Elder Law: Planning for Aging Parents

It is never easy to prepare for the aging and passing of a parent. Aging presents inevitable consequences, and it can be especially difficult to talk about them with your parents. However, understanding their wishes now can alleviate stress and anxiety if something were to happen to them unexpectedly. Our elder law attorneys are here to help. Today, the Davidson Law Group shares some tips on how to talk to your aging parents about their future and what you should discuss.

Have Honest Conversations with Your Parents

End-of-life planning can be a difficult topic of conversation, but it’s an essential one. There are many estate planning elements to address, and your parents’ wishes can change, so it will most likely be an ongoing conversation. It’s best to begin having these conversations while they are still healthy. Listen carefully, try to understand your parents’ wishes, express compassion and empathy, and include siblings in the discussion. If you later find yourself making healthcare decisions for an aging parent, you will know what they wanted and can execute those wishes.

What to Discuss

Here is a run-through of what to discuss with your aging parents:

  • Their funeral wishes
  • Advance directives (durable power of attorney and living will)
  • Wills and trusts
  • Transfer-on-death or pay-on-death accounts
  • Joint accounts with rights of survivorship
  • Their desires for long-term care

Ask your parents about what estate planning they have arranged so far. If they have created documents, make sure you know where they are located. If you are chosen as the executor of your parents’ estate, you have an important role to fill.

Related Post: Top Duties of an Executor

Consult an Elder Law Attorney

Next, consider meeting with an experienced attorney who can help guide you and prepare the right documents. At the Davidson Law Group, our estate attorneys can help moderate the conversation between you and your parents, and we may propose discussion points that have been overlooked. We want to cover all the bases so that your estate plan accurately reflects your family’s wishes.

Related Post: Some Reasons You Might Need an Elder Law Attorney

Schedule a Free Consultation Today

If you are looking to begin your estate plan or you need further guidance on handling an elderly parent’s estate, contact the Davidson Law Group. From drawing up wills to creating trusts, our attorneys specialize in estate planning and elder law, and we provide expert legal advice to our clients. Contact us today in Fort Worth, Allen, or Tyler to schedule your free consultation.