Do Your Parents Have an Estate Plan?

By Elder & Special Needs Law, PLLC – Lexington, Kentucky 

As members of the “sandwich generation,” many Kentuckians find themselves caring for children and aging parents at the same time. It’s a loving but challenging role—especially when it comes to ensuring your parents’ finances, health care, and legacy are properly protected. 

One of the most important (and often avoided) conversations you can have with your parents is about estate planning. Though it may feel uncomfortable at first, discussing their wishes now can prevent confusion, conflict, and costly court involvement later. 

Why Talking About Estate Planning Matters 

Estate planning isn’t just about who inherits property—it’s about making sure your parents’ wishes are known and respected during their lifetime and after they’re gone. A clear, up-to-date estate plan can help: 

• Avoid unnecessary probate delays 

• Minimize taxes and administrative costs 

• Ensure bills and care expenses are covered if your parents become ill 

• Provide peace of mind for your entire family 

  
  

Without proper planning, Kentucky families can face avoidable stress, court hearings, and family disputes at an already difficult time. 

Key Topics to Discuss With Your Parents 

1. Wills and Trusts 

Ask whether your parents have a last will and testament or a revocable living trust. These documents determine how their property will be handled and who will be in charge of managing their estate. 

• If they have a trust, make sure it’s funded (meaning their assets are titled in the trust’s name). 

• If they only have a will—or no plan at all—encourage them to meet with a Kentucky estate planning attorney to ensure everything is properly documented. 

2. Powers of Attorney 

Your parents should have both a financial power of attorney and a medical power of attorney in place. These allow trusted individuals to handle bills, investments, or health care decisions if your parents are unable to do so themselves. 

Make sure they’ve chosen agents they trust—and that those agents understand their roles. 

3. Advance Directives 

A living will (also called an advance directive) outlines your parents’ wishes for medical treatment, including life-support decisions. Having this conversation now prevents uncertainty later and helps doctors and loved ones honor their choices. 

4. Insurance and Accounts 

Encourage your parents to keep a current list of all accounts and policies, including: 

• Bank and investment accounts 

• Life, health, and long-term care insurance 

• Retirement and pension accounts 

Make sure someone knows where to find policy details, account numbers, and contact information for advisors or institutions. 

5. Professional Team 

Finally, your parents should identify their key advisors—attorney, accountant, financial planner, and doctors—and keep their contact details organized. This makes it much easier for the family to step in if help is ever needed. 

How We Help Kentucky Families Plan Ahead 

At Elder & Special Needs Law, PLLC, we help Kentucky families start these conversations and create personalized estate plans that protect what matters most. Whether your parents are just beginning the process or need to update an older plan, we can guide them every step of the way. 

Ready to Get Started? 

If you’re unsure whether your parents’ estate plan is complete—or if they even have one—now is the perfect time to find out. 

Contact Elder & Special Needs Law, PLLC at (859) 320-0859 or visit reedelderlaw.com to schedule a confidential consultation. 

Let’s ensure your parents’ wishes are honored and their legacy is preserved with confidence and care.