March-April 2021

W ill our parents have the care they need as they grow older? Many people struggle with aging parents’ unwillingness to face their limitations. That’s why it can be wise to bring up these issues early. Ask specific ques- tions like: At what point would it make sense for you to stop driving, or to have a caretaker come in to help with the meals? Kate Wilber, professor of gerontology at the University of Southern California - Leonard Davis School of Gerontology, says, “Often, at first, you’ll be rebuffed. This will likely take more than one conversation.” Who will provide the caregiving, if it is needed? Cynthia Hutchins, director of financial gerontology at Bank of America, recommends that siblings should talk among themselves about how they’ll share the caregiving role. “You want to be sure that both your parents and your own needs are considered. Sometimes it makes sense to cobble together a combination of in-home and outside care,” she says, where siblings can at least share costs, if not the hands-on responsibilities. What about end-of-life issues? Among the things to consider: Which medical treatments do you and your parents want to be used or avoided at the end of your lives? Who do you want to be your healthcare proxy if you are unable to communicate your wishes? You can use a health- care power of attorney and a living will to document your choices. And begin thinking about how you want to pass on your legacy—financial and otherwise. For more information, contact Merrill Financial Advisor Brian Fields of the Camp Hill, PA, office at 717-975-4602 or bfiels3@ml.com. Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (“BofA Corp.”). MLPF&S is a registered broker-dealer, Member SIPC and a wholly owned subsidiary of BofA Corp. Investment Products: Are Not FDIC Insured Are not Bank Guaranteed May Lose Value Money Sense Nationwide Property Inspections and Preservation Inspections Preservation Insurance Loss Inspections REO Services Violation Management Utility Management Vacant Property Registrations Foreclosure Registrations Special Services Protecting Your Properties. Protecting You. • NFROnline.com • 800-639-2151 REVERSE MORTGAGE / MARCH-APR I L 2021 7