-
Step 1
Schedule a time to talk with your parents about their real estate planning options. Convey that you want to be involved because you have their best interests at heart and not because you are trying to take away their independence. Ask them about their short and long-term goals in terms of real estate and how you can help facilitate the process to make it easier on them.
-
Step 2
Detail a clear, sound real estate plan for your parents. If their real estate matters are as simple as downsizing to a smaller, elder-ready home in the next few years, then make a plan for that, even though it is fairly simple. Detail potential communities that cater to elderly homeowners, safety issues, building versus buying an existing home and anything else that you think might be relative to the process of real estate planning.
-
Step 3
Ask for their reactions to your ideas in order to ensure they feel involved in the process. Elderly parents tend to put up the most resistance when they think their children are trying to cut them out of the planning process and take over for them. Be sensitive to their thoughts and feelings and avoid making decisions without consulting them.
-
Step 4
Lay out the plan in a clear, concise format. Elderly people do best with written materials that they can read at their own pace and process in their own time. Be specific about the planning process and include everything you have discussed, from potential plans to set decisions. List all of their real estate assets.
-
Step 5
Stay in frequent contact as their real estate plans move forward. If selling their home is part of the plan, remain in close contact throughout the process. Designate yourself to be the point person for the real estate agent and be present for major decisions. Discuss all aspects of the sale and planning process with your parents and make decisions together.
