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[quote=Anonymous]
OP - I think your approach to having the conversation with your parents about their financies and any LTC policies was spot on.  Also to talk to them in dollar terms about the cost of future services.  Folks say it is not your reponsibility, but the fact remains many adult children do step in to help aging parents. If the parents can't feel comfortable discussing finances or long terms aging issues directly with you, then do get the advice as mentioned of an Elder Attorney.  This person might make the most sense in just reveiwing the legal instruments they have in place, especially in setting up the successive folks POA, Health Power on Decisions, Executor of the Estate etc. as needed.  They will also have the experience in reading the fine details of contracts on LTC insurance policies and on any policies regarding future care as in  a CCRC, Assisted Living or Memory Care residential program.

Other folks to have them speak with would be the place(s) that they are most likely to seek care support with either a local agency or an actual residential provider of services.  Again this will be a time for both you and your aging parents to understand the services provided and the cost of such services.  Every family is different in finances, dynamics and ability to face the future.  You have done well to provide themw with housing close by you and how you proceed in the future should be governed by the needs of your children first of all, the financial health of your family (including your own future longterm care) and your own health.  Parents are allowed to make unwise decisions, but you do not have to feel compelled topic up the pieces.   We are the senior couple and we place the well-being of our adult daughters and their families as top priorities in legal and financial planning.  I will say it is very surprising how fast a health issue can change the stability that an indepedent couple or single person has so keep the conversation going with your parents and with your spouse.[/quote]

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