As your parents get older in Oregon, you should talk to them about their end-of-life wishes. Helping them put their affairs in order should help safeguard against confusion regarding essential topics like insurance, finances, living arrangements, and legal documents.
Going over finances
One of the first tasks you may want to pursue when helping your elderly parents put their affairs in order is to go over their finances. Making a list of all their accounts can be critical. Be sure to include names, account numbers, and locations. Reviewing each asset or investment and discussing any lifestyle adjustments that might be made can be beneficial. Doing so helps ensure that they continue to live comfortably. Setting up a budget and automatic bill payments can also be helpful.
Gathering legal documents
Ensure that your parents have their legal affairs in order. Updating their estate plan or will be necessary. Setting up a power of attorney to help with their finances and health care is also an excellent idea. You may want to have them give you medical power of attorney too, which provides you with the authority to hire caregivers as needed.
Your parents may have several policies consisting of health, automobile, life, and long-term care insurance. Making a list of each one with contact information and account numbers should make dealing with them more straightforward when the time comes.
Addressing living arrangements
Going over their living arrangements is also a good idea. You may have to make some modifications to your parents’ home to make it easier to get around. Addressing safety issues is also critical. Installing grab bars or a walk-in tub can make it safer for them to live independently.
Talking about end-of-life wishes
Discussing funeral plans may also be addressed. You might have a parent who wants to help plan the arrangements.
As a loved one nears the end of their life, you’ll want to review some essential concerns. Preparing in advance can make it much easier to handle each necessity as it comes up.