Few things can prepare a person for an ailing parent. Leslie Thompson, managing principal at Spectrum Management Group in Indianapolis, recently had a client dealing with his father's own declining health, as dementia and other physical ailments set in. Although the father lived in a duplex connected to the son's family home, it was clear he needed more attentive care.
How to Manage Family Finances While Taking Care of an Elderly Parent
6. Don't ask your parents to help straighten out your latest personal or financial crisis. While you may depend on their emotional support, relying too much upon their resources, rather than your own, can lead to mutual resentment, says Dr. Tessina. So get used to solving your problems, big or small, on your own.