Happy Endings

With Mother’s Day and Father’s Day coming up, you may be celebrating your parents over the next few weeks. Maybe you will get together and relive memories of their past as you grew up. Are you also thinking about their future and how it may impact yours??

Once your parents retire Social Security and Medicare will help with living expenses, but it’s likely they will outlive those funds. You need to know if they have savings and safeguards in place to protect the money they worked so hard for. Here are some things to consider.

Fraud

Since older adults have had more time on the planet to save up their money, they are logical targets for fraud and not just by strangers. When talking to your parents listen for stories of any new friends coming into their lives and how they spend time together. For example, when they go out to lunch, does your parent always pay the check? Here ?are some other things to watch for. Also talk about the latest cybersecurity scams. Criminals are employing the latest capabilities of AI to do scary things like enhance family emergency schemes .?

Finances

Always a touchy subject, but the economy is perpetually uncertain. Everyone wants to ensure they have all the resources they need to live the rest of their lives the way they want to. Here are a few questions to ask.

• Do they have savings (e.g., IRAs, pensions, etc.) in place?
• Do they have outstanding debts?
• Do they have the necessary documents (like these )?filed?
• Not to be morbid, but have they thought about funeral arrangements? Do they want their remains to be buried or cremated? Are they organ donors? If they haven’t thought about it yet, encourage them to document their preferences so you can carry out their wishes after they are gone.

Fulfillment

Mostly, you want to know that if you die before they do they have a plan for living out the rest of their lives in safety and comfort. Here are some questions to ponder together.

• Is the interior of the house okay? Accessories like grab bars in the shower, a chairlift for the stairs, and adequate lighting throughout the house will help prevent falls.?
• Do they have any chronic conditions? Are the names and contact information for their healthcare providers written down somewhere that you can access if necessary?
• Do they have a community? Social engagement is important for mental and emotional health no matter how old you are. Do they volunteer with their church? Does their city have a senior center?
• Do they feel safe driving? Are they open to public transportation, ride-sharing, or?a nonprofit’s transportation program ?
• When they eventually need help aging in place, should you live together? If so, who is financially responsible for what expenses? How much physical help will they need before it’s beyond your capabilities? Should you get advice from an eldercare attorney to prepare yourselves for what the future may bring?
• If they ultimately need an assisted living community, how do you find a trustworthy one? Here’s some information ?on where to begin.

The future and money are both emotional conversation topics. If you approach them with empathy, respect, and active listening, they will be more productive. Be aware this is not a one and done. You will revisit these issues as long as you are blessed to still be on the same planet as your parents.

What resources do you recommend for aging in place?