Watching your parents grow older brings a mix of gratitude and responsibility. As their needs shift, one of the most impactful things you can do is help them plan for the future, especially when it comes to their estate. Yet, helping aging parents with estate planning is often neglected or delayed until a crisis strikes. That delay can lead to confusion, unintended consequences, and costly legal battles.
Most people don’t set out to make poor decisions. But without proper guidance, many aging parents leave behind unclear instructions or outdated documents that don’t reflect their current wishes. This article walks you through how to support your parents with estate planning in a way that protects their legacy and gives everyone peace of mind.
Bringing up estate planning might feel awkward, especially if your parents are private about finances or hesitant to talk about aging. But avoiding the topic doesn’t make the need go away. In fact, delaying these conversations can lead to rushed decisions during a medical emergency or after a death.
Here are a few ways to ease into the discussion:
According to a 2024 Caring.com survey, only 32% of Americans have a will, and the percentage drops even lower among those over age 65 if they believe they “don’t have enough assets.” But estate planning is for everyone, not just the wealthy. In the end, an estate plan is about making sure the assets they do have are used the way they want, and that someone they trust can make decisions if they become unable to.
At a minimum, every aging parent should have an estate plan that includes these 4 essential documents:
Each of these documents plays a role in avoiding elder financial abuse, reducing family conflict, and protecting assets from unnecessary loss or delay.
Even well-prepared families can run into problems if an estate plan is outdated or incomplete. A common issue is naming outdated beneficiaries on retirement accounts or life insurance, which can override what’s in a will. Joint bank accounts with one child can unintentionally leave out others, creating an imbalance. Many families also fail to plan for long-term care, and the cost of assisted living or nursing support can quickly erase savings. Wills and trusts that contradict each other often lead to confusion or legal conflict. In blended families or when a child has special needs, unclear distribution plans can spark disputes.
One of the most misunderstood points is that a will does not control everything. Assets like jointly owned property, retirement accounts, and trusts typically pass outside of the will. That’s why it’s important to keep everything aligned and up to date.
Older adults can be especially vulnerable to financial scams, undue influence, or even manipulation by people they know. Estate planning is the safeguard they need. When your parent has named a trusted agent for financial and medical decisions (and put clear instructions in writing), it becomes much harder for someone to take advantage of them.
If there’s concern about mental capacity, working with an attorney experienced in estate litigation and elder law becomes even more important. A properly drafted plan can withstand legal scrutiny and help ensure that your parents’ choices are honored.
While DIY estate planning tools are widely available, they often miss important nuances that could affect taxes, healthcare decisions, or legal validity. Working with an attorney ensures that your parents’ documents comply with state laws and are tailored to their specific needs.
A firm like Ferguson Law Group, which focuses on both estate planning and trust and estate litigation, is well-equipped to help families avoid mistakes and resolve conflicts if they do arise.
You don’t need to take over; you just need to be a guide. Here’s how to be helpful without overstepping:
Helping aging parents with estate planning can prevent confusion, protect their assets, and ensure their wishes are clearly understood. Taking the time to get it right now can spare your family from stress, legal complications, and potential disputes in the future.
If your family is ready to create a new estate plan or needs help reviewing an existing one, Ferguson Law Group is here to help. Our team has extensive experience in estate planning and trust, and estate litigation. We’re here to make the process clear and manageable. Contact us today to get started.
Start by having an open conversation about their wishes, then help them connect with an experienced estate planning attorney to create or update key documents like a will, trust, and powers of attorney.
Common mistakes include not updating beneficiary designations, relying only on a will, failing to plan for long-term care, and leaving vague instructions that lead to confusion or disputes.
Seniors can reduce risk by setting up a durable power of attorney with a trusted individual, working with a qualified attorney, and keeping their financial and legal documents organized and up to date.
