What advice do you have for people who are stuck in the middle?
Step back and look at what you are doing for yourself as well as for your parents. If you are helping them and worrying about your children at the same time, there's a good chance all you will really be is angry. We want to honor our parents, but we have to be comfortable with the choices they've made. If they didn't save for retirement, they shouldn't expect you to bail them out. Don't get into the victim-rescuer mode.
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legal documents you will need—aside from a will, of course—to assist parents in a medical or financial emergency and handle their estate at death
MEDICAL DIRECTIVE
Also known as a living will or advance health-care directive, it lays out the kind of care your parents want if they become ill or incapacitated
DURABLE POWER OF ATTORNEY FOR HEALTH CARE
Gives you authority to make health-care decisions for your parents. Also referred to as a health-care proxy
PRIVACY RELEASE
A release, under the Health Insurance Portability & Accountability Act, authorizes access to your parents' medical records
DURABLE POWER OF ATTORNEY FOR FINANCES
Lets you manage your parents' finances, including paying bills or selling property
REVOCABLE LIVING TRUST
Enables parents to retain control over their estate while transferring assets to beneficiaries
Data: Caring.com
