Frequently Asked Questions for Aging Parents

Are you wondering if your parents have their estate and inheritance plans in order? Here’s help posing the right questions in a sensitive way.

1. Could you tell me where you keep your important papers at home, in case I need to find them?
2. Have you made an inventory of your property, including furniture, jewelry, art, and other collectibles?
3. Is there anything I can do to help get your important documents in order?
4. Have you named someone to make financial decisions for you if you are no longer able to make those decisions yourself?
5. Do you have a living will or a health care power of attorney?
6. How do you feel about long-term care if you need help later on?
7. Who are your key advisors: attorneys, financial consultants, accountants, and insurance specialists?
8. Have you thought about making a charitable gift through your estate to support causes you believe in and to save on taxes?
9. Would you like to talk with me about your final wishes or funeral arrangements so I can make sure I know what to do?
10. Is there anything else you’d like us to discuss?
    

These questions will not only ensure that your parents have a good handle on their estate planning but should also encourage you to put your own estate plan in order.