Peace of Mind for Your Aging Parents
A Financial, Legal, and Psychological Toolkit for Adult Children, Advisors, and Caregivers
By 2030, more than 20 percent of the U.S. population will be aged 65 or older, compared to 13 percent in 2010.
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Explains the most effective ways to discuss the legal and financial responsibilities that come with the end of life and tools for managing them—such as wills, trusts, estate planning, and cash management—in the context of financial psychology.
Dying is complicated. It presents myriad challenges at a time when people are least prepared to deal with complexity. Typically, aging people turn to their adult children and grandchildren, their caregivers, and their professional advisors to guide them in their final years.
This book is aimed directly at the children and grandchildren of aging parents to prepare them for meaningful conversations with their parents and among themselves. It gives them the tools they need to communicate knowledgeably with caregivers and professional advisors and to make important decisions with, or on behalf of, those who depend on them.
The authors provide legal and financial tools and techniques, including wills and trusts, cash management, and investment planning, approaching each from both a financial and a psychological perspective. They recognize that some of the challenges that people face during their last few years of life cannot be controlled and describe not only what these tools and techniques can do but also what they can't. Those that cannot be controlled, however, can still be managed, and the authors explain with clarity and compassion how to deal with them through psychological and spiritual engagement.
- Prepares readers for meaningful conversations with their aging parents, with each other, and with the people who care for them
- Details solutions to the problems most often mentioned by clients
- Presents not only conventional wisdom but also state-of-the-art ideas from financial psychology
- Defines elder law and financial issues so as to be accessible to general readers
- Author Info
"This book is more than just a financial toolkit; it is a brilliantly informed, humane, and thoroughly readable treatise on well-being for aging parents and those who care about them. I strongly recommend it for thoughtful persons of all ages as we prepare for the greatest generational transfer of wealth in history."
"This book raises the questions you should have been asking—but perhaps haven't—and points you to the answers. A ‘must read' for those with elderly parents and for CPA financial advisors."
"A masterly account that completely covers all the important financial topics appropriate to your aging parents. The book's four continuing personality types help you understand on a step-by-step basis all the key questions you need to ask, including communication suggestions. It's a wonderful read."
- In the News
University of Minnesota, UMN Expert: Aging U.S. Population Puts Focus on Family Care, 7/11/2018
- Look Inside