Broaching the subject of moving to a retirement facility with a parent is typically not met with enthusiasm. You may feel, however, that moving would be in the best interest of your parent. Although our parents often feel that moving from the family home means giving up their independence, it may be difficult, or even dangerous, to remain in the home. Even daily tasks such as getting dressed, bathing and preparing meals becomes harder as we age. One way to approach the subject is to look at what it will cost for your parent to remain in the home. Prepare for the discussion with your parent ahead of time by getting estimates for the following things that may be needed if he or she elects to remain in the home:
- Building ramps and opening up doorways
- Modifications to the home such as the addition of hand rails, grab bars and additional lighting
- A chair lift if the home has a second story
- Home health aids or nursing services
- Cleaning services
- Transportation
- Meal preparation
With your figures in hand, sit down and explain to your parent what the financial implications of remaining in the home are likely to be. Often, your parent may be more open to looking at the subject from a financial perspective and may actually see why staying in the home will quickly deplete his or her estate assets. By using a pragmatic approach, you may be able to convince your parent to at least consider moving to a retirement facility.
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