As parents, we care for our children until they can fend for themselves. Then one day, the roles are reversed. Our kids become the caretakers.
There are certain discussions that are just too important not to have. Unfortunately, these are also often the most difficult conversations to think about. As many planners will know well, talking with your adult children about your end-of-life wishes may be the hardest conversation of all.
Back when the kids were kids, it seemed like the “birds and the bees” talk was tricky. However, according to a recent article in The Washington Post, the “aging talk” is far more difficult to grasp. Why is that?
Be sure to read (and share) this article titled “Having ‘the other talk’ with your kids – not storks, but aging.”
More to the point: what do you have to say?
End-of-life planning these days has so much to do with medical and financial planning. You and your loved ones have to understand what health crises may arise, how to handle them or even how to receive the needed care. In fact, nearly 70 percent of people over the age of 65 will need long-term care services late in life. This is itself a financially uncomfortable prospect to think about, let alone discuss.
So what is there to think and talk about?
The original article has a helpful list of the bare essentials. At this point in life – more than ever – all of your planning is related. How does your end-of-life plan relate to your overall plan for your life, your family, and for your estate?
Reference: The Washington Post (March 29, 2014) “Having ‘the other talk’ with your kids – not storks, but aging”