“Does mom want to live in a nursing home?”

“What does dad feel contributes to, or takes away from, his idea of ‘quality of life’?”

“Do mom and dad have legal documentation in place that ensures someone can act financially on their behalf if they are unable to?”

These are just three of many questions we are encouraging our clients to ask their parents and aging loved ones during Sandwich Generation Month, an observance that focuses on the legal and financial burdens facing adults who are caring for young kids and their older parents at the same time.

Without knowing the answers to such questions, families could be left battling over long-term care, struggling financially, and not truly honoring their parents’ wishes in the event of a future healthcare crisis.

Far too many families avoid talking about aging and long-term care until it’s too late. Especially from a legal standpoint, if you don’t know your parents’ wishes or the documentation they have in place (or don’t), you could be left with a huge mess on your hands if they become sick or disabled.

This month,we advise adult children to have 5 specific conversations with their parents as soon as the opportunity presents itself:

1. Long-term care preferences – Do mom and dad want to live in a nursing home or would they prefer in-home care if the need presented itself? If they prefer a facility, what amenities and activities are important to them at this point in their life? If they want to live alone in their home, will that suit their personality or will loneliness and depression result? These are questions that if discussed in advance can make the transition into an assisted living facility or a home-healthcare program much easier on everyone when the time comes.

2. Current Legal Documentation – It’s imperative that adult children find out what legal documentation their parents have in place before incapacity occurs. This includes making sure their parents have a Power of Attorney, Healthcare Directive, and HIPAA documents so someone can easily step in to make financial or medical decisions on their behalf. Otherwise, the family will be forced to petition the court for control over their parents’ affairs if they passed the point of legal capacity.

3. Medical Preferences and Wishes – Adult children should find out what type and how much medical care their parents want as they age, or following a debilitating diagnosis such as Alzheimer’s or Dementia. Do they have specific wishes about life support or other end-of-life medical treatments? Who do they want to make such decisions on their behalf? The answers to these questions will help your parents feel secure knowing their wishes will be carried out during an otherwise emotionally-charged time.

4. Current state of financial affairs – To ensure finances are properly managed, adult children should start asking tough questions about their parents’ financial affairs. This includes finding out the location of any safety deposit boxes, bank accounts, investment or brokerage accounts, long-term care insurance, outstanding debts, or other assets unknown to the family. Otherwise, necessary assets needed to cover long-term care or other expenses could go overlooked and unaccounted for. You should also ask your parents how they plan to pay for long-term care. Most expenses are not covered by Medicare or private insurance. Medicaid may be able to help, but you will likely need an attorney to help you create the right kind of Trust or utilize other planning strategies in order to meet the income and asset thresholds and protect your assets from being “spent down” while qualifying for benefits.

5. Important contacts and information – While their memory is still sharp, adult children should work with aging parents to compile a list of important contacts and information that will be useful to the family. This includes documenting key doctors, professional advisors (e.g., accountant, attorney, financial advisor), and important passwords for online accounts.

While these conversations are certainly not easy to have, families can make the transition into a parent’s senior years easier by planning ahead. Not to mention, mom or dad will appreciate your willingness to make sure their wishes are honored if and when incapacity, sickness or disability occurs.