Page 21 - Southern Exposure - December '21

Southern Exposure, Page 21

finanCial foCuS

Don’t Avoid “Taboo” Topics With Older Parents

By Sally Sima Stahl

If your parents are getting close to retirement age, or If your parents are agreeable, choose a location comfortable Try to address these
are already retired, it may be time to talk with them about for them and ask whom they might like to invite (or not areas:
financial and aging issues, some of which may involve invite). Then, think about how to open the conversation, • Health Care – You’ll
difficult conversations. For the sake of everyone in your preferably not with what they want to do with their money – want to learn if your
family, don’t avoid these “taboo” topics. this could be interpreted as your seeking information about parents have established the
You’ll need to be careful about approaching these your inheritance or being skeptical about their financial appropriate health-related
subjects with your parents. Mention ahead of time that you’d decisions. Instead, build a broad-based discussion about their legal documents – a health
like to talk to them about their future plans and reassure vision for their aging years. A series of shorter conversations care power of attorney,
them that you want to understand their wishes, so their may allow you to cover topics more comfortably, one by one, which gives someone the
affairs will be taken care of as they would like. rather than trying to solve everything at once. authority to make important
decisions about their
medical care if they become
unable to do so themselves, and a living will, which spells
out the extraordinary medical treatments they may or may
not want.
• Independence – As people age, they may begin to
lose their independence. Have your parents considered
any options for long-term care, such as a nursing home
stay, or the services of a home health aide? And do they
The Heart of Hobe Sound family members, do their expectations match yours?
Est. 1926 have plans in place? If they plan to receive support from
• Financial goals – Focusing on the personal and
CHRISTMAS SEASON financial aspects of the legacy your parents want to leave
can be a valuable conversation. Have your parents updated
EVENTS & PROJECTS WE are YOUR their will or other arrangements, such as a living trust?
WE WILL BE RENOVATING OUR ALMOST Community Church Have they named a financial power of attorney to make
100 YEAR OLD CHURCH (IT’S GOING TO decisions on their behalf if they become incapacitated?
COST $350,000 – TIME TAKES ITS TOLL) All Visitors Welcome Do they have the proper beneficiary designations on
donations welcomed and appreciated. We Invite You to Worship with Us their insurance policies and retirement plan accounts? If
you can position these issues as being more about your
CHRISTMAS EVE CANDLELIGHT SERVICE Every Sunday at 10:30 a.m. parents’ control over their financial destiny, rather than
DEC. 24 - 5:30 P.M. “who will get what,” you’ll more likely have a productive
Full choir singing your favorite Christmas carols Give us a call or visit our conversation.
• Last wishes – You’ll want to find out if your parents
FOR THE FORGOTTEN website for more information. have left instructions in their will about their funerals
Christmas gifts for adult disabled men and women (772) 546-5043 and last wishes. Express to them that you, or another
CHRISTMAS CARDS AND GIFTS FOR THE SOLDIERS www.heartofhobesound.org close family member, should know who is responsible for
MONTHLY DINNERS making sure their wishes are met.
Monthly dinners to help offset some of the almost $350,000 in Money, independence and aging can be sensitive topics.
renovation cost to our Church – Dinner will be held on the 2nd Friday Don’t think you have to go it alone – you can enlist help
of the month at 5:30 p.m. from October thru May from another close family member. Or, if you know your
Cost is $15 per person parents are working with a trusted advisor, such as an
DEC. 10 - Pork Loin dinner
JAN. 14 - Rib dinner attorney or financial professional, you could see if they’d
FEB. 11 - Valentine’s dinner be willing to have this person participate in your talks.
You might even be able to introduce them to one of your
11933 SE Juno Crescent • Hobe Sound, Florida 33455 advisors.
In any case, keep talking. These conversations can
be challenging, but, if handled correctly, can be of great
benefit to your parents and your entire family.
Age is Just a Number... This article was written by Edward Jones for use by
your local Edward Jones Financial Advisor. Edward Jones.
Member SIPC.
Like a Bank Account Number. Edward Jones, its employees and financial advisors
are not estate planners and cannot provide tax or legal
advice. You should consult your estate-planning attorney
Have you Protected your or qualified tax advisor regarding your situation.
Call me for a free portfolio review at (561) 748-7600,
Children or Grandchildren Sally Sima Stahl, AAMS, 1851 W. Indiantown Road, Ste.
106, Jupiter, FL 33458.
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