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Money Matters: Making decisions for our aging parents

 
 
 
 
This is for you who have aging parents or parents who need to make decisions about what they should discuss with and consider with their parents/parent/sibling regarding what I would define as estate planning.
 
The house:  If the family is nearby and one has the luxury and ability to allow their parent/parents to stay in the home and be mobile, that is always the best as the stats show that the more active we are as we get older, the better the quality of our life. 
 
Here in Chicago, the issue is the real estate taxes, the maintenance of the homes (roofs, electrical, aging plumbing, etc.) and most seniors have those 1.5 story homes and the washer and dryer are in the basement!  The amount of bad weather with the increasing real estate taxes, utility bills coupled with the ongoing maintenance generally forces a decision of what to do with Mom or Dad as they can’t afford to stay in their home, they are getting to sick or weak and need daily care or it is too dangerous for them to be alone.
 
 Financial:  One needs to look at the long and ... more

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