I’m curious about what people have done to financially care for parents when there are multiple siblings of various financial abilities and life stages (DINKS, married with young kids, single), most geographically separate from the parents.
How do you best structure financial and practical assistance to your parents when there are financial and geographical issues affecting all options?
My siblings and I (4 of us!) have expected financially assist our mother in the future and/or have her live with one or more than one of us. However, after multiple falls, bone breaks, and other health challenges and a lack of ability to maintain a single family residence, it’s obvious something has to change sooner, even though she is only 62. The question is how? Obviously the focus is on keeping mom safe, healthy and happy, but I’m sure there are ways to set up this process for the least friction between siblings.
AARP and other places have checklists for this process, but they focus on getting the senior into long term care, not general at home care that might include living with adult children or similar. They also seem to focus on documentation, and I am interested in the more practical day to day realities, as well as later implications for financial assistance structures set up in the moment.
What steps of this process are going to be the biggest surprise or roadblock that is not mentioned in these cheery checklists? If the assistance requires help with a property purchase, like a condo with elevators and an HOA for outdoor maintenance, how best should that be structured?