It may not be important or best for all family members to know everything about their parents’ lives or financial affairs. What IS important is that parents have:
Before the meeting, make a list of other concerns to be discussed and questions to be answered. Also, decide who will take notes. At least one person should record any tasks that require follow-up, such as taking action to legalize the selection of an individual and alternates for the durable power of attorney for health care and checking into costs of long-term care and long-term care insurance.
To familiarize yourself with the important papers that all adults should keep and where they should be stored, review the "Legally Secure Your Important Papers: Organize Your Important Household Papers" learning lesson. Use the Organize Your Important Papers and Record of Important Papers online resources.
For more information on paying for long-term care, see http://www.financinglongtermcare.umn.edu
Resources and ToolsLegally Secure Your Financial Future. The series also includes information to help you organize important household papers and begin preparing your estate plan.