My Parents Need to Downsize

Dr. Laura Call of the Day

Dr. Laura Schlessinger & SiriusXM

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4.4 • 6K Ratings

🗓️ 14 February 2025

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Stephanie wants to have a heart-to-heart with her elderly parents about selling their home and straightening out their finances. Searching for advice? Call 1-800-DR-LAURA / 1-800-375-2872 or make an appointment at DrLaura.com

Transcript

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0:00.0	Thanks for listening to my call of the day podcast. You can hear my live radio program Monday through Friday from 2 to 5 p.m. Eastern Time on Sirius XM Triumph 11.
0:11.2	Stephanie, welcome to the program. Thank you, Dr. Laura. You're welcome. How can I help?
0:18.5	Well, I am calling because I have my parents who live in their home, their home that I was raised in,
0:30.3	and they're in their early 80s.
0:34.4	But what I'm struggling with is how to begin the conversation with my parents about
0:43.8	selling their home and looking to downsize and looking to get into a situation where their finances are just...
0:56.2	Okay, you can stop.
0:57.2	You can stop.
0:58.5	The answer is never.
1:02.0	Okay.
1:04.3	You don't do that.
1:07.9	So when we see that they have mishandled and mismanaged their funds and they can't barely pay.
1:16.6	I don't know if they consider that they've mishandled their funds.
1:21.8	You may just not like how they're spending it, but that doesn't mean they've mishandled.
1:28.6	Well, they, well, I mean, there's, you know, IRS getting involved, or at least that I can't,
1:35.4	that I have come to be aware of, that they're, you know, that that is not a good standing.
1:42.4	Stephanie, I'm a big proponent of, unless you can demonstrate to a court,
1:47.3	that one or both of them is incompetent mentally or physically
1:52.1	and need special, specialized caretaking, that you leave them alone.
1:58.3	Okay.
1:59.1	So as far as...
2:01.4	Please don't give me another list. Please don't give me another list.
	...

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