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When Parents Reach Old Age, Bringing Up Finances Can Be Difficult

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As life spans continue to increase and more people are living in extended family environments, many are having to deal with financial issues that affect their elderly parents

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									                 When Parents Reach Old Age, Bringing Up Finances Can Be Difficult

As life spans continue to increase and more people are living in extended family environments, many
are having to deal with financial issues that affect their elderly parents. In many situations these
financial topics can be a taboo subject in the family, especially when the elderly parents have a lot of
pride and are reluctant to speak about financial difficulties. If you are in this type of situation, there
are a couple of strategies you might be able to use in order to more easily approach the subject with
an elderly parent.

Discuss Your Own Plans
If you've already developed an estate plan, this can be a useful way to talk to your parents about their
own efforts. For example, if you have created a financial power of attorney you can speak to your
elderly parents about how the document can be so useful.

Work Together
Everyone can benefit from developing a budget or spending plan, and if you don't already have one
yourself, you can also benefit by getting your parents to create one with you. You can develop your
budgets collaboratively and work through the process and difficulties you face together.

Discuss The News
Many stories about financial con artists and financial scams appear regularly in the news. You can use
these stories to ask if your parents have suffered from any type of financial victimization or have taken
any steps to protect themselves against such possibility.

Experienced estate planning attorneys Port St. Lucie FL of the Robert J. Kulas, P.A. offers estate
planning and business planning resources to residents of Port St. Lucie FL. To learn more about these
free resources, please visit www.kulaslaw.com/ today.

								
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