Page 15 - Hobe Sound Reflections - December '21

Hobe Sound, Page 15

seNior MaTTers FiNaNCial

Not Just For Seniors flexible and find ways to thoroughly enjoy time together

when they and you aren’t quite so stressed, rushed, and
Three Ways To Improve Holiday Celebrations overcommitted. FoCus
With Family 2. Reduce Shopping Stress
If family gift-giving has become burdensome, consider
By Arati Hammond, ways to lighten the financial load, along with the mental Don’t Avoid “Taboo” Topics
Realtor at Keller Williams battle for good gift ideas. If you can’t bring yourself to
Realty, Seniors Real Estate eliminate gift-giving, try drawing names, so everyone With Older Parents
Specialist and Certified only needs to purchase one gift. Another option is a gift-
Luxury Home Marketing swap table, where everyone brings one gift within an By Sally Sima Stahl
Specialist agreed-upon spending limit. Assign each gift a number If your parents are
Sharing time together and draw numbers to select gifts. Or, use the numbers to getting close to retirement
doesn’t have to be play a grab-bag game, complete with “gift-stealing” rules. age, or are already retired,
stressful, especially if You can also reduce spending by giving gifts you already it may be time to talk
you’re willing to make own, that you know someone would like. For example, with them about financial
a few adjustments to give your daughter the family china she’s always loved, and aging issues, some
longstanding traditions. or your friend the painting she’s frequently admired in of which may involve
Consider these options. your foyer. Gifts like this are meaningful and rich in difficult conversations.
1. Celebrate Early memories! For the sake of everyone
When extended and blended families have to be several 3. Gift-Giving For Adults in your family, don’t avoid
places in a matter of three or four days, the stress adds up! Perhaps your family wants to continue giving the little these “taboo” topics.
Talk to your family about other options, including setting ones small gifts to unwrap. However, do the adults need You’ll need to be careful about approaching these
up an earlier visit in November or October. It may work (or even want) gifts? Shopping for others is a joy when subjects with your parents. Mention ahead of time that
even better to plan a half-year celebration in June or July, it’s something you want to do, versus something you feel you’d like to talk to them about their future plans and
when kids are out of school, plus a video call on the day obligated to do. If there is something you want to give reassure them that you want to understand their wishes,
of the traditional holiday. Coordinating a new schedule an adult family member, why wait until a holiday? Why so their affairs will be taken care of as they would like.
gives everyone time together while offering the young not surprise them when you find that perfect thing? It’s If your parents are agreeable, choose a location
parents in your family more time and energy to create a great way to feel joy, instead of an obligation, when comfortable for them and ask whom they might like
new at-home traditions with their young children. Be giving. to invite (or not invite). Then, think about how to open
the conversation, preferably not with what they want to
do with their money – this could be interpreted as your
seeking information about your inheritance or being
skeptical about their financial decisions. Instead, build a
broad-based discussion about their vision for their aging
years. A series of shorter conversations may allow you to
cover topics more comfortably, one by one, rather than
trying to solve everything at once.
Try to address these areas:
• Health Care – You’ll want to learn if your parents
have established the appropriate health-related legal
documents – a health care power of attorney, which
gives someone the authority to make important decisions
about their medical care if they become unable to do
so themselves, and a living will, which spells out the
extraordinary medical treatments they may or may not
want.
• Independence – As people age, they may begin to
lose their independence. Have your parents considered
any options for long-term care, such as a nursing home
stay, or the services of a home health aide? And do they
have plans in place? If they plan to receive support from
family members, do their expectations match yours?
• Financial goals – Focusing on the personal and
financial aspects of the legacy your parents want to leave
can be a valuable conversation. Have your parents updated
their will or other arrangements, such as a living trust?
Have they named a financial power of attorney to make
decisions on their behalf if they become incapacitated?
Do they have the proper beneficiary designations on
their insurance policies and retirement plan accounts? If
you can position these issues as being more about your
parents’ control over their financial destiny, rather than
“who will get what,” you’ll more likely have a productive
The Heart of Hobe Sound • Last wishes – You’ll want to find out if your parents
Est. 1926 conversation.
have left instructions in their will about their funerals
CHRISTMAS SEASON and last wishes. Express to them that you, or another
close family member, should know who is responsible
EVENTS & PROJECTS WE are YOUR for making sure their wishes are met.
WE WILL BE RENOVATING OUR ALMOST Community Church Money, independence and aging can be sensitive
100 YEAR OLD CHURCH (IT’S GOING TO topics. Don’t think you have to go it alone – you can
COST $350,000 – TIME TAKES ITS TOLL) All Visitors Welcome enlist help from another close family member. Or, if you
donations welcomed and appreciated. We Invite You to Worship with Us know your parents are working with a trusted advisor,
such as an attorney or financial professional, you could
CHRISTMAS EVE CANDLELIGHT SERVICE Every Sunday at 10:30 a.m. see if they’d be willing to have this person participate in
DEC. 24 - 5:30 P.M. your talks. You might even be able to introduce them to
Full choir singing your favorite Christmas carols Give us a call or visit our one of your advisors.
In any case, keep talking. These conversations can

FOR THE FORGOTTEN website for more information. be challenging, but, if handled correctly, can be of great
Christmas gifts for adult disabled men and women (772) 546-5043 benefit to your parents and your entire family.
CHRISTMAS CARDS AND GIFTS FOR THE SOLDIERS www.heartofhobesound.org This article was written by Edward Jones for use by
MONTHLY DINNERS your local Edward Jones Financial Advisor. Edward
Monthly dinners to help offset some of the almost $350,000 in Jones. Member SIPC.
renovation cost to our Church – Dinner will be held on the 2nd Friday Edward Jones, its employees and financial advisors
of the month at 5:30 p.m. from October thru May are not estate planners and cannot provide tax or legal
Cost is $15 per person advice. You should consult your estate-planning attorney
DEC. 10 - Pork Loin dinner
JAN. 14 - Rib dinner or qualified tax advisor regarding your situation.
FEB. 11 - Valentine’s dinner Call me for a free portfolio review at (561) 748-7600,
Sally Sima Stahl, AAMS, 1851 W. Indiantown Road, Ste.
11933 SE Juno Crescent • Hobe Sound, Florida 33455 106, Jupiter, FL 33458.