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Follow on Google News | Will You Need It or Will You Provide it?Long Term Care for aging parents is becoming a topic of both conversation and concern for many baby boomers as life expectancy increases. Author Jane Blaufus offers her Top 5 Questions to review with your family, and ask yourself.
By: SPARQ STREET Communications No one likes to have to have the ‘courageous conversation’ About 2.7 million Canadians provided unpaid care to people 65 and over with some form of long-term health problem in 2007, an increase of over 670,000 in 2002, the study says. Projections show that by 2056, the proportion of Canadians age 65 or older will more than double, to over one in four; similarly, the proportion of people 80 and over will triple to about one in 10 (2007 General Social Survey (GSS) on Family, Social Support and retirement). In the US according to an AARP survey, some 35% of boomers have been responsible for the care of their elderly parents, up from 26% in 1998. Meanwhile, half of boomers are still raising a young child, in some cases their grandchildren as well, or providing financial assistance to an adult child, according to Pew Research Centre. So go ahead – just try to retire! Here are the Top 5 ‘courageous conversations’ 1. What plans do you currently have in place if you were to become critically ill or require long term care? 2. Have you recently reviewed your wills and pre-estate documents for financial and health matters to make sure they are up-to-date? 3. Do you know what your employers policy is in relation to the care giving demands you might potentially face? 4. Do you know where to get help for yourself if you become overwhelmed by the support that you might be required to provide to your parents? 5. If you are responsible for looking after your elderly parents, have you made sure there is sufficient life insurance in place (in addition to what you have provided for your family) to care for them after you are gone? When was the last time you had this type of discussion with your family? Have you put any of those decisions on paper? What did you find helpful? What would you suggest to others? Share your tips with me on twitter @janeblaufus. More personal and financial planning tips can be found in Jane's book WITH THE [STROKE] OF A PEN™, Claim you life which can be ordered at janeblaufus.com (http://www.janeblaufus.com) or you can also connect to Jane on Twitter (http://twitter.com/ To book Jane for an interview or to provide commentary, please contact: Rania Walker Phone: 416-258-8953 E-mail: rania@sparqstreet.com www.sparqstreet.com About Jane: Jane Blaufus is an Author, Professional Speaker and Catalyst for ‘Courageous Conversations’ End
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