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How Aging Parents Can Prepare Their Children for Caregiving

http://time.com/money/4373207/family-finance-adult-children-aging-parents/Older parents, take heart: Your children are willing to help support and care for you as you age, according to a new study from Fidelity Investments. There’s only one hitch: Most families don’t agree on exactly what that help should be, and what responsibilities children should assume.

Fidelity’s third Family & Finance report, released Tuesday, surveyed two members of each family polled — one parent and one adult child — on topics like retirement income, eldercare, and estate planning. The results: Nearly two in five families disagree on the roles those children should play as parents age.

Such mismatches can set up big emotional and financial problems later on, says John Sweeney, executive vice president of retirement and investing strategies at Fidelity. Families shouldn’t wait till a health problem or other unexpected event forces a rushed caregiving or financial planning conversation he adds…Via time.com

 

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