Why Aging Parent Care Is Like a 3-Legged Stool

If you’ve ever tried sitting on a stool with a broken leg, you know it doesn’t take long before things get wobbly.

That’s exactly what caring for an aging parent can feel like when you're missing one of the key supports. It might seem manageable at first, but over time, small cracks turn into full-blown instability.

In my work as a financial planner—and in my own personal experience navigating this season—I’ve come to see aging parent care as a 3-legged stool. The three legs are:

Financial Planning
Legal Authority
Health & Care Support

If even one of these is weak or missing, everything else becomes harder. But if you get them all in place early? The whole experience becomes more stable, and frankly, less overwhelming.

Let’s break each one down.

1. Financial Planning: Know What’s Available

This is the foundation of any plan. Before you can make decisions about care, you need to understand what your parent can afford—and what kind of support you’re prepared to offer.

This means:

Reviewing their income, savings, and insurance
Creating an emergency file with account info and logins
Checking beneficiary designations
Making sure your own retirement plan is solid first

It’s also smart to have a discussion about expectations—what your parent assumes you’ll pay for (or manage) versus what’s realistic for your family.

2. Legal Authority: Prevent Future Roadblocks

I can’t stress this enough: if your parent hasn’t completed power of attorney documents, now is the time.

Even better? Go to the banks and financial institutions where your parents hold accounts and have them fill out those institutions’ POA forms. Many won’t accept a general POA without extra red tape.

3. Health & Care Support: Understand What’s Needed (and What’s Coming)

This leg of the stool includes everything from basic help around the house to full-time memory care.

A few important considerations:

Are there signs your parent may not be safe living alone?
What kind of support do they want (and where)?
How much care will they need—and when?
Is there a continuing care community (CCRC) they’d consider before a crisis limits their options?

Remember, staying at home sounds ideal, but it can become prohibitively expensive once care needs escalate.

And here’s the kicker: many facilities have health and financial requirements. Wait too long, and your parents may not qualify. Timing is everything.

Put the Pieces in Place Before You Need Them

When all three legs of the stool are solid, you’re in a much better position to:

Help your parents age with dignity
Protect your own time and finances
Avoid last-minute, high-stress decisions

It’s not about control. It’s about creating stability—for them and for you.

Get the Full Guide

Want a checklist that walks you through these three pillars?

Download our free guide: "The 3-Legged Stool of Aging Parent Care: What Every Adult Child Needs to Know."

You’ll learn what questions to ask, what documents to track down, and what signs to watch for—so you can stay prepared instead of scrambling.

Click here to get the guide now.

👉 Schedule your complimentary Discovery Call with me here today!

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