Caring for an elderly parent can be both a blessing and a point of severe stress for adult children and their families. Having your older parent live nearby or even with you offers a chance at a unique relationship at a time in his or her life when he or she is sometimes hungry for continued contact with loved ones, especially grandchildren. Those relationships are often the foundation for lasting memories for grandchildren, which is another reason many families want to care for older generations.
Still, amid the merriment and memory-making, there are some very real concerns about finances, health and legal matters. Those lurking concerns can underscore any enjoyment and create ongoing stress if you don't uncover them and address them. For example, is your parent or other elderly relative truly better off on his or her own or in your home? Often, this might be the case, but there are other times when health concerns make it necessary to seek professional care.
Another concern can be the financial impact of caring for a loved one. In a world where groceries are seemingly more expensive each day, the cost of medicine, equipment and other needs for an older relative can quickly become a burden for families.
Finally, caring directly for an older loved one means managing financial and legal decisions. You might become a power of attorney and have access to your parent's bank accounts and other records. All of this can be burdening and stressful.
Our firm works with caregivers in such positions so that they know what their options are. We offer guidance through processes, such as filing for benefits or dealing with nursing home claims, so you don't flounder in the overwhelming ocean of information. We can also offer guidance about estate matters, working with both families and older loved ones to ensure everyone understands the process and is happy with results.