VIEWS: 3 PAGES: 1 CATEGORY: Legal POSTED ON: 9/18/2012
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
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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