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Serious question – what if your parents had dementia, or alzheimer’s or some other condition where they can’t rely on themselves. As in, they need your help, including their finances? What are you going to do about it?
Cameron Huddleston was forced to talk to her mom about her finances when she started showing visible signs of Alzheimers. The good news you heard is that she got all the paperwork in order, including getting enough money for long term care.
Cameron is an award-winning journalist and author of Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances. We chat about her experience becoming the power of attorney of her mom’s finances, how you can approach talking with your parents about how they’re going to handle their golden years all the way to the nitty gritty of the paperwork involved.
What You Hear in This Episode:
- Why Cameron was hesitant to talk to her mom initially about her finances
- How Cameron approached the conversation about estate planning and power of attorney with her mom (and suggests you do the same)
- What the consequences are if you don’t approach your parents about their finances
- How to start the conversation (hint: it has nothing to do with the numbers)
- Where you can find resources and help to write a will, healthcare directives and power of attorney
Questions to Ponder:
- How can you start the conversation about money with your parents?
- When can you schedule a meeting with your siblings before you approach your parents?
*remember, let me know in the comments below your answers! If you’re a social media person, come find me on Instagram (@beyondthedollar) and send me a DM or comment on any one of my posts. I read every single one!
- Cameron Huddleston
- Mom and Dad, We Need to Talk: How to Have Essential Conversations with Your Parents About Their Finances
- American Bar Association Legal Aid
- Legal Services Corporation Legal Aid
- Fabric free wills
- Power of attorney forms
- Tommorow.me free wills
- The Ultimate Guide to Money Mindset Mastery
- Values Based Spending Guide
- Freelance Writing Kickstart – use code BTDLISTENER for 10% off course
*Thanks to Donovan Dorrance for the awesome theme music