This scenario becomes particularly painful when the parents become elderly, especially when the adult child “freeloader” continues to mooch off of the aging parents and even begins to abuse the aging parents. The responsible adult children, who have lives of their own, may come to their wit’s end. Ultimately, everything comes to a head when the elderly parents need care and can no longer care for the adult child. What then?
This is an increasingly common problem, given the recent economic unpleasantries and the expanding retirement bubble of aging baby-boomers. Fortunately, Forbes recently explored this conundrum in an article titled “What Siblings Need to Do About Aging Parents and The Family Freeloader.”
So, what can you do? While it’s still hard to say for certain, since every family is different, you need to deal with it.
Out of concern for everyone, and despite whatever family baggage may exist, you must find a solution. In most instances an Elder Law Attorney should be consulted to ensure the protection of the elder parents, especially if financial elder abuse is suspected.
At Idaho Estate Planning, we understand the challenges faced by elder Americans. We have the experience and expertise to help you maintain your options and protect yourself as well as your loved ones now and into the future. Remember, good planning is no accident.