Many people will go out of their way to avoid talking about illness, death, and money where their aging parents are concerned. The reality is we all get older and eventually need help from others. And when you are prepared, you’ll have an easier time of it. If you haven’t had these discussions with your parents it may be time to start laying the groundwork.

What type of documents do you need?

Last Will. Decisions regarding your assets, how your estate will be managed, custody and care of minor children are some of the terms that need to be mapped out. Do-it-yourself kits are available, but if trusts, complex estates, or large amounts of money are involved, use a lawyer to draw up the Will.

The Medical Care Documents You need to appoint someone who you want to make decisions if your unable to do so. A Living Will tells physicians what your wishes are regarding your medical care.

How to begin estate planning

You should know where your parents store their important documents. You have to know where to look for financial information, medical and life insurance policies, contact information of doctors, lawyers, and financial advisors, funeral and burial plans, real estate deeds, birth certificates, marriage licenses, and social security cards, etc.

Help your parents with the estate planning

You want to help your parents as much as they need and want to be helped. The last thing you want to do is to go over the boundary and end up ruining their sense of independence. Be respectful at all times. And, be sensitive to their concerns and try to put yourself in their shoes – after all, you will be there someday.

Examine your estate planning

While you’re at it, take care of your own estate planning, too. Make sure that when the time comes that you are prepared for a smooth transition of your legacy, which you have prepared through your estate planning.

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