As we grow older, there are a number of things we need to start thinking about that we may have never considered in our younger years. Many of these concerns need to be shared with your family. Doing so can bring you closer together, help you live a happier life, and prepare yourself for the coming years.
With that in mind, there are several conversations that you should prioritize having with your kids as soon as possible. Continue reading to make sure you do not forget to have any of them.
This conversation is one that many don’t think about when growing older. However, it’s an important part of ensuring that your legacy and the legacy of your parents and grandparents live on. Even though you may feel like your kids know everything about you, chances are there’s still a ton of information that you haven’t had the chance to share with them yet.
One of the best ways to communicate this information is to set up an “interview” with your kids. Create a list of topics that are important to you and give your kids an opportunity to ask you about them once you’ve shared your stories. Record this on an iPhone or video camera to make sure that your most important thoughts and memories live forever with your family.
There are a number of documents that we need to create and manage as we grow older. Some of the most important of these are your power of attorney, advance directive, insurance policies, and a list of your doctors and medications.
While you can manage some of these on your own, you should at least tell your kids where to find them. Even better, create a copy of each of the documents for them to hang onto. Doing this will make sure that they’re prepared to act quickly if the need to should ever arise.
You should also be upfront and honest with your kids about your assets. This conversation should include telling them what your assets are, where they’re located, and how your kids can access them in the event of an emergency.
We all like to think that we’ll be healthy until our 100th birthday. However, that’s, unfortunately, not often the case. That’s why it’s so important for you to prepare your kids to access your assets if it’s ever needed.
Older adults also need to be clear about their healthcare plans and insurance coverage with their kids. This is another conversation that will prepare your kids to act quickly and properly in the event that something happens to you.
Tell your kids about your Medicare health insurance and what it covers. If you’re unsure about the specificities of your coverage, then now is the perfect time to gain clarity. You can get that clarity by reaching out to a partnered licensed agent with Time for 65.