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[quote=Anonymous]

The most important thing an adult child (mature one) could do would be to sit the parents down and see what their plan is to fund long-term care because in most cases you do not just drop dead or die peacefully in your sleep!  If they do have it, see what is covered and for how long as there is information out there with insurance brokers - meaning not just representing one firm - who can talk to them about what they have and might suggest anything to add.  If they do not have it encourage them to go talk to an independent financial planner for a consultation fee and/or insurance person to see what folks think they might be able to afford in LTC insurance or if they could "self-insure."  Generally, the cost of LTC insurance is cheaper and you are apt to qualify if you get it early.   From a presentation it just happens last night, there are many new LTC products on the market and ways to set one up that has tax advantages (way beyond me.)

On the aspect if you are an adult child who had your complete education paid for including professional school and help or a first home purchased, then, of course, I think it is important beyond having a conversation about future care needs and funding, to also consider what you could consider covering if your fparents' income has not kept pace.  In some ways, offering to see what you and your folks might be able to set up in one of the newer policy options might be the most sensible way to go.  You are helping them figure out future care in a realistic framework and letting them know what you can fund now - over a period of time paying the coverage for the product.

What the expectations of your folks in terms of care expected from you is an entirely different topic, and I think again you need to be upfront about what is feasible and not in a long-range plan.  The idea that a son or daughter will drop everything and take care of a parent for months or even years on their own home or move them into a son or daughter's home is often "the parent(s)'s view," but may not be feasible at all.  This often where the real conversation well ahead of time needs to happen.

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