Peace of Mind for Your Aging Parents

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.

Kenneth O. Doyle, PhD, is associate professor on the advertising and public relations faculty in the School of Journalism and Mass Communication, University of Minnesota---Twin Cities and a licensed psychologist and retired financial planner.

Preface Acknowledgments Chapter 1 Introduction Part One Worries You Can Control SECTION 1 LEGAL MATTERS Chapter 2 Legal Worries Chapter 3 Legal Tools Chapter 4 Legal Techniques Chapter 5 Advanced Legal Techniques SECTION 2 FINANCIAL MATTERS Chapter 6 Financial Worries Chapter 7 Financial Tools Chapter 8 Financial Techniques Chapter 9 Advanced Financial Techniques SECTION 3 COMPLICATED ASSETS Chapter 10 Real Estate Chapter 11 Retirement Plans Chapter 12 Life Insurance Chapter 13 Business Interests Chapter 14 Special Assets Chapter 15 Scams SECTION 4 SENSITIVE DECISIONS Chapter 16 Housing Chapter 17 Healthcare Chapter 18 Prolonging Life versus Hastening Death Chapter 19 Remains Chapter 20 Disagreements with Parents Part Two Worries You Can't Control SECTION 5 FINDING PEACE AND HAPPINESS Chapter 21 Peace through Psychology Chapter 22 Peace through Religion and Spirituality Chapter 23 Happiness, Even Joy Appendix 1 A Primer on Financial Products Appendix 2 Recommended Changes in Laws, Regulations, and Covenants Further Reading Index