ADVICE | What is the third age and how we can help?
- Protecting your estate
- Aged care
- Home care
- Ensuring your final wishes are met
As your parents get older, your whole family will be facing lots of changes. Supporting them during this time can be challenging, with lots of choices to be made.
Getting some help during this time as you prepare for this role-reversal is invaluable. The last thing you want during this emotional time is to be a burden or to cause family conflict. In the later stages of life, many seniors want to stay independent for as long as possible, but there usually comes a time when they need more support. So how can you do more for your parents to keep them safe and comfortable, without taking away their sense of independence and dignity?
It starts by getting together as a family. Instead of waiting until one, or both, of your parents are facing a crisis with their health and/or finances, have a family meeting to talk about what they would like to happen.
While it may be a tricky subject to tackle and one the whole family can feel quite emotional about, being prepared to care for your parents as they age can make it a lot less stressful when there’s a change in circumstances. Even if your parents are in the best of health now, that situation can change overnight, quite literally, if they were to have a stroke or a fall.
Sometimes all of this seems very money-minded and nosey, but just remember your parents’ wealth and wellbeing can be at risk if paying bills and managing their investments and income isn’t properly taken care of.