Caring for aging parents is a reality faced by many adult children—and approaching it with thoughtful planning, time, effort and financial preparation before challenges arise can make all the difference.

Below are key areas to consider and questions to ask:

Safety

Ensuring your parents' safety is paramount. Start by evaluating their home for fall risks—such as loose rugs, extension cords and clutter. Ask:

• Do they have grab bars, a raised toilet seat, a cane, walker or wheelchair—and are they using them correctly?
• Are smoke and carbon monoxide detectors installed and functioning?
• Do they know what to do and who to call in emergencies? Keep this information written down and easily accessible.

Transportation

Mobility is essential for independence. Consider:

• Are they still driving, and is it safe for them to do so?
• Would limiting driving times (e.g., avoiding nighttime driving) reduce risk?
• When is it time to take away the keys—and how will you handle that conversation?
• What alternative transportation options are available (e.g., public transit, Uber/Lyft, senior transport services)?
• Can you help set up delivery apps for groceries, prescriptions and other essentials?
• If you're nearby, are you prepared to be their primary transportation?

Medical Care

Navigating healthcare becomes more complex with age. Ask:

• Do they have adequate coverage (Medicare, supplemental or Advantage plans, prescription drug coverage)?
• Would consulting an insurance agent help optimize coverage and reduce costs?
• If memory or cognitive issues are present, how can you support medication management and appointment reminders?
  • Consider daily pill boxes, unit-dose packaging and phone reminders.
• Do you have access to their medical records and provider contact info?
• Are you—or someone else—prepared to act as their medical advocate?
• Is there a “grab-and-go” binder at their home with all essential medical documents?
• Have they completed living wills, DNR/DNI orders, or a POLST to communicate end-of-life preferences?

Long-Term Care Needs

Planning ahead can ease transitions. Consider:

• Have they explored senior living communities, assisted living or nursing homes?
• Are they on any waiting lists?
• Do they have long-term care insurance or other assets to cover costs?
• If not, are Medicaid-supported facilities the only option—and have you explored asset protection strategies?
• Would they prefer in-home care, and can they afford the higher costs associated with it?

Estate Planning

Legal preparedness is crucial. Ask:

• Do they have a valid will, trust and powers of attorney for finances and healthcare?
• Who is designated as POA, executor, trustee and successor for each role?
• Do you have copies of these documents if you’re named in any capacity?

Fraud Protection

Older adults are frequent targets of scams. Help them stay vigilant:

• Remind them that if something sounds too good to be true, it probably is.
• Warn them about common scams, such as fake emergency calls from grandchildren.
• Encourage them to verify requests with a trusted source before sending money.

Providing Help from a Distance

Supporting parents remotely adds complexity. If you're not nearby:

• Identify local family members or friends who can assist.
• Explore community organizations that specialize in elder care support and coordination.

These are the kinds of topics and questions to begin considering as your parents age. Many of them are things we rarely think about, or would rather not, but they’re essential for ensuring your loved ones are supported, safe and prepared for the future. Starting these conversations early can make a meaningful difference.

The Busey Wealth Management team is here to help ensure you and your loved ones have a financial and estate plan that work for your specific needs. To learn more about our services, visit busey.com/wealth-management.

This is not intended to provide legal, tax or accounting advice. Any statement contained in this communication concerning U.S. tax matters is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties imposed on the relevant taxpayer. Clients should obtain their own independent tax advice based on their particular circumstances.

This material is provided for educational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities.

This presentation is for general information purposes only. It does not take into account the particular investment objectives, restrictions, tax and financial situation or other needs of any specific client.