VIDEO: Time to have a financial heart-to-heart with your aging parents

It is the conversation no one wants to have, even though the vast majority of Canadians with parents over 65 feel it is important to discuss elder caregiving and financial support.

Here are 5 steps to creating your family playbook:
1. Have the conversation – include all key family members
2. Know where to find key documents and financial assets
3. Write down plans and expectations for caregiving
4. Create a financial plan that considers caregiving arrangement and costs
5. Seek financial and legal counsel about building your estate plan

Now is the time to have the heart-to-heart. A little planning can go a long way and that is a win/win. Watch this short video to get important tips:

Managing elder care finances

A Community News blog post

West Toronto Support Services writes articles about events and news in the community that closely align with our agencies mission of living independently and promoting your health & wellness.   Articles posted under community news don’t necessarily mean we directly endorse them – they are articles of interest that you can pursue further.   We believe a healthy community is a diverse and connected community!

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