You’ve no doubt heard the term ‘Sandwich Generation’, an expression that describes what it’s like to take care of both your elderly parents and your own children or grandchildren. As your parents reach stages in life where they need more hands-on assistance, here are some points to consider:
Look for signs of health problems
According to the Mayo Clinic, there are eight signs that your parents may need extra care.
1. A change in outward appearances, such as If their grooming or housekeeping declines
2. Memory loss beyond normal forgetfulness
3. Home safety, such as problems with falling
4. Driving safety, such as a rise in confusion or accidents
5. Weight loss
6. Mood changes and depression
7. Declining social interactions
8. Impaired mobility, such as in walking or moving around
If you have concerns, first address their safety and transportation issues as much as you can. Encourage them to visit the doctor and offer to go with them. You also may enlist home care assistance (like a housekeeper or meal service) and community resources available for needs like transportation or adult day services. Read more about practical tips for addressing their needs.
Write down important information
Strongly encourage your parents to write down key information about their accounts, assets, insurance policies, passwords, and specific instructions for handling their possessions and household needs. They’ll also want to note the names and contact information for agents, attorneys, and advisors who manage their accounts. Don’t forget everyday items like pet care, pharmacy information, and the location of extra keys and vital documents (like wills and birth certificates).
Reassure them that they don’t have to share this information with you now, and you’re not trying to violate their privacy. However, if something unexpected happens, you’ll need to know what to do. They should put the written instructions in a secure but accessible place that you can get to easily (not a safety deposit box!)
Have the crucial conversations
Long before your parents become incapacitated, it’s important to ask them directly how you can help them manage their daily affairs. Perhaps they can add you to their checking accounts so that you can help them pay bills. One useful document for most families is the Durable Power of Attorney (POA). A POA for health care allows you to make health decisions on behalf of the parent, while a POA for finances gives you authority to make legal and financial decisions if necessary.
These are just a few of the many considerations surrounding caring for aging parents. For more information, check out these sites:
http://www.aarp.org/home-family/caregiving/
Call Bankers Fidelity for information on supplemental life insurance coverage.
