Planning for the Future of Your Parents

If you are one of many people that graciously desire to help care for your elderly parents and their assets, then there are a few steps to keep in mind.

As people watch their parents get older, they may desire to take care of their parents as a way of repaying them for raising them as children. Unfortunately, many elderly people can develop chronic medical problems during their retirement years that may make caring for them a challenge. 

1. Make Sure That There is a Strong Healthcare Power of Attorney

For children caring for their parents, their number one concern is their healthcare. While parents may be able to voice their medical opinion at the present time, what happens if they get sick and slip into a state of delirium, dementia, or a coma? Will they be able to voice their opinion then? In this situation, someone else from the family will have to step up and make a decision. This is why everyone should have a healthcare power of attorney who is entrusted to make these decisions if the patient is unable to do so.

2. Elderly People Should Have an Advanced Directive

Similar to a healthcare power of attorney, everyone should have an advanced directive as well. While someone should be appointed to make medical decisions, patients should also have an advanced directive. This is a medical order that specifies what kind of treatments the patient desires if they are unable to voice their opinion in the moment. Examples of possible treatments include CPR, defibrillation, and intubation. What kind of life-preserving measures does the patient desire in the future? Make sure that these are known before the time arrives.

3. Start Looking at Assisted Living Facilities Early

While many family members would like to take care of their parents during their later years, sometimes this simply isn’t possible medically or financially. For this reason, people should start to take a look at the assisted living facilities in the area. They range across a wide spectrum from almost total independence to professional medical care around the clock. They also can provide a wide variety of amenities such as transportation into town, balance classes, swimming pools, and dining options. They also range in their ability to care for patients with chronic medical problems. It is important to think about what kind of center would be right for your loved ones before the time comes. Start looking early.

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