As parents age, it’s natural for them to need assistance with daily tasks. In some cases, they may require additional care. While some parents may prefer moving to assisted living facilities, others may opt to stay with their children.
If you’ve decided that your older parents should move in with you, there are many things you need to consider. Let’s look at some steps or changes that can make this transition smoother.
Make a plan for your living space
The first step is to evaluate your living space to see how well it can accommodate your parents and their belongings. Take a moment to assess whether your current arrangements meet your parents’ requirements and determine whether any modifications are necessary.
Ideally, you’ll have sufficient space in your home to provide them with their own room, bathroom, and activities area. However, if space is limited, it might be necessary to talk to your partner and children about sharing certain living areas.
You may have to make renovations to your home to address mobility issues, such as installing grab bars and non-slip flooring in bathrooms, stair rails on flights of stairs, and additional lighting in their room and around the house.
Set up routines
When parents move in, it can disrupt their established routines. To minimize disruptions and create a sense of stability, it may help to establish new ones. You can develop a routine with regular mealtimes, and, if needed, a schedule for administering medicines or any other treatments they require. Create shared activities, too, such as regular walks, board game nights, or just watching TV together.
Establish financial boundaries
Before your parents move in, discuss the financial implications of this decision with your parent, siblings, and immediate family members. Talk to your parents and figure out their sources of income—they might be getting an infusion of cash from selling their home, withdrawing from retirement accounts, or even using the cash value of a permanent life insurance policy like whole life insurance.
If you and your family are covering all or part of their expenses, discuss what this will look like. Consider dividing expenses, determining responsibility for utility and grocery payments, and addressing contingency plans for unexpected costs. Establishing everyone’s financial responsibility from the outset can prevent misunderstandings and conflicts down the line.
Seek emotional support
Caring for older parents can be emotionally demanding, and it’s important to prioritize your well-being, too. Think about what type of support system you have—whether it’s friends, family, or a therapist. You can also consider connecting with others in similar situations by joining a support group for caregivers. Remember that taking care of yourself can help you be a better caregiver for your parents.
The bottom line
When your parents move in, remember the importance of preparing well ahead of time, planning for all possible scenarios, and setting boundaries to make the transition as smooth as possible. The change may not be easy, but taking proactive measures to ensure that your parents are comfortable and safe in their new home can make a world of difference.
The primary purpose of permanent life insurance is to provide a death benefit. Using permanent life insurance cash value will reduce the death benefit and may affect other aspects of the policy.
Leave a Reply