Four Tips for Women Helping Aging Parents


President and CEO of Women & Co., Linda Descano, has four tips to offer women who are thinking of diving into this conversation with their parents:
1. Know where your parents’ important documents are and ensure that they have the three most important documents in place: a living will, a durable power of attorney and a health care proxy.
2. Engage your parents in a discussion, with a financial advisor, to determine: their current assets and income, their current debt and spending (rent or mortgage payments, fees incurred when accessing retirement accounts, etc.), percentage of assets that are liquid, plans for covering medical and care-giving costs (Medicare, long–term care insurance, etc.).
3. Along with a financial planner, determine where they need help. Give your parents’ materials and identifying resources to assist them in addressing any issues.

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