The older our parents get, the more we worry about them. They may act strong and pretend they do not need assistance, but we understand that we might have to step in and help them eventually.
Financial assistance can be tough sometimes, especially if one is going through rough times. A way around that could be to have some plan and be prepared early. Here are some ways to do that.
Talk about their current challenges and the ones they worry might pop up. Open, honest conversations with them would let you know where they are and where they want to be.
Without speculating, you will find out where they are financially, which is a great start. Make sure to double-check everything and confirm they are all valid and up-to-date.
Power of Attorney gives anyone authority to decide about someone else’s properties, finances, or medical care. With this, you can make some decisions on behalf of your parents.