Keep your parent’s home in good shape and start preparing a move-out plan now
Q: Our fiercely independent mother lives alone. We are trying to get ahead of the curve on when and how Mom leaves her beloved home. All her kids and adult grandchildren live hundreds of miles away. Is there a list of best practice tips for out-of-town families working through the inevitable steps of a parent’s move?
A: First, keep the family home in good working order. You never know when you’ll need to sell or rent it. I’ve been working with older adults and their adult children since the 1980s. Thankfully, a new occupation appeared in response to the wave of aging Americans — the care manager — also known as a professional or geriatric care manager. The family should have already met with and completed all the due diligence suggested by their elder law attorney, as well as Mom or Dad’s tax person. Now, families should include a care manager to guide them through the maze of later-life care options.
Every day adult children make anxious calls to adult care facilities due to life-changing events — these calls often occur while Mom or Dad is in an ER or a hospital room. They are calling because Mom or Dad usually cannot go home and live alone immediately after this brief hospital stay or ER visit. To make matters worse, many adult kids are not in sync with their older parent’s affairs — not ideal when circumstances suddenly change. Meaning, the adult son or daughter is not an authorized third party who can take over house payments, bank accounts, utilities, credit cards, homeowner association fees, et cetera. The same goes for everything under the umbrella for an older adult’s medical needs: doctors, insurance(s) and medication.
Providing there is a trusting relationship between an older adult and a trustworthy child, the adult son or daughter should be an authorized third party on all household accounts, especially Mom’s medical information, medication, account numbers and passwords.
Older adults tend to stay in their home too long as they are perfectly content in their apartment, condo, townhouse or house. How and when to fund a move is a conversation most often delayed or avoided. Good for you to get one started.
Have a question? Know someone who is thinking of moving? Full-service Realtor Pat Kapowich provides turnkey services including relocation, staging, market analysis and strategic planning. 408-245-7700 or Pat@ Siliconvalleybroker. com. Broker License 00979413.