In the past, many families huddled only after a medical crisis. But even families who have their caregiving strategy mapped out are gathering to work through complicated financial issues and legal planning for frail, elderly relatives.
Bad communication leads to bad relationships. No truer words have been spoken, especially when it comes to families caring for elderly parents. For many families, communication has never been easy. For other families, it has never been an issue. What about your family?
Is it time for a family meeting, or a family huddle, or one serious conversation – whatever you choose to call it – about your elderly parents, their finances and their estate planning? If yes, how do you go about having “the talk” successfully?
How to first assemble and then discuss productively is an age-old problem for families with elder parents. In the end, there is no real one-size-fits-all solution, as people are different and families are complex. Fortunately, there are some basic principles worth noting as reviewed in an article in The Wall Street Journal titled “When It's Time to Huddle.”
If you do not have time to read the original article, here are the bullet points to ponder:
- Be Inclusive,
- Don’t Delay,
- Hire a Professional Referee,
- Set an Agenda in Advance, and
- Tap Long-Distance Relatives.
Think your family does, in fact, communicate well? That may be so, but there are still all the reasons in the world to get this conversation right.
You can learn more about this topic as well as other strategies on our website under the tab entitled: elder law planning in Virginia. Be sure you also sign up for our complimentary e-newsletter so that you may be informed of all the latest issues that could affect you, your loved ones and your estate planning.
Reference: The Wall Street Journal (May 10, 2013) “When It's Time to Huddle”