It is never easy to discuss your own mortality, and it can be just as difficult to discuss this sensitive issue with your parents. As an adult, you may wonder what will happen in the future when your Illinois parents are unable to care for themselves or after they pass away. It is important for all families to have a discussion about these matters, even if it is difficult and uncomfortable. This conversation is necessary, especially as your parents reach an advanced age.
When you understand your parents’ wishes, you will be in a better position from which you can assist in the event of their incapacitation or after their passing. You can play an important role in the preservation of their legacy and honoring their wishes. If you currently don’t know important details about your parents’ estate plan or have an understanding of their motivation behind certain decisions, it could lead to complications for your entire family.
A unique plan that suits their needs
People are living longer than ever, which means that it is important to have much more than just a basic will in place. It is important for older adults to have plans that could address their needs in the event of their incapacitation, lengthy hospitalization and more. You may not want to approach this subject with your parents, but it is still important. As you address these matters, you will want to discuss the following:
- Updating beneficiaries on trusts or life insurance policies
- Changing or discussing power of attorney designations
- Making long-term health care planning decisions
While it is not easy to discuss these important matters, it is still critical to talk about these things. If you do not understand your parents’ wishes or know the motivation behind certain decisions, it could lead to disputes between loved ones, confusion over preferred health care measures and other complications.
Estate planning assistance
Whether you are creating your own plans, getting important answers to your estate planning questions or discussing your parents’ plan, you will benefit from experienced guidance. An assessment of the specific situation can provide insight regarding the steps you need to take and how you can help your parents face their futures with confidence.
