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 A few important things to know and do :
• Talk to your parents to know their expectations .
• Gather information from friends and family members who are already caring for an aging loved one.
• Get to know different types of residential care facilities
• There are many options for helping people grow old gracefully, either in their own home or in a facility, and several ways that you can finance the costs of the care.
If your parents are healthy and able to look after themselves , they are eligible to enter a continuing-care retirement community that allows them to buy or rent an apartment and ensures them lifetime nursing care when it is necessary.A good solution is also private long-term care insurance, which can help cover nursing-home costs or the cost of an in-home aide. Many families decide to move an aging parent into their own home. If can peacefully coexist with your parent, this may be a good idea because the arrangement frees you from worry about the upkeep of a second home, and you and your children can have valuable time to spend with your loved one.
• Everything depends on the degree of care people
• Certain tax breaks may be available if you can claim your parent as a dependent.
• Look for appropriate long-term care insurance policy.
• Determine whether caring for your parents entitles you to any special tax breaks.
• Increase contributions to your emergency and retirement accounts in order to continue safeguarding your own financial future.
• Contact non-profit groups that support elder-care providers
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