There are some things no one wants to think about until they have to, such as caregiving for your parents as they age and figuring out what happens to your finances when you die.
But planning for these events now can spare you and your loved ones a lot of hassle later on.
The first step is to simply talk about the inevitable.
“Think about the people you care about. Would your life be better if you never brought this subject up? Or would everyone’s lives improve if you did?” says Lauryn Williams, a certified financial planner and owner of Worth Winning, a US-based financial planning company.
“Getting the conversation going is a game changer for being able to tackle these topics,” she says.
OK, your death and your parents getting older do not make for light dinner-table conversation. But there are ways to ease into each of these uncomfortable topics.
How to have the caregiving conversation
Millennials are currently the “sandwich generation”, says Frank Pare, a certified financial planner and president and managing partner at PF Wealth Management Group in California. That means they are responsible for bringing up their children while also thinking about how to care for ageing parents.
The Covid-19 pandemic might have forced you to have frank discussions with your parents about their healthcare situation. You can use that momentum to approach conversations about the type of care they would prefer later in life, whether it is moving in with you, going to assisted living or having in-home care.
Ms Williams suggests making a list of open-ended questions to start the conversation, such as: “What would you want to happen if you suddenly got ill?” or “How do you see me being a part of your retirement?”
Talk about what resources your parents plan to use to pay for care. Do they have a life insurance policy or a pension?
Frank Paré,
certified financial planner
Talk about what resources your parents plan to use to pay for care, Mr Pare says. Do they have a life insurance policy or a pension? Will they need to look into long-term care insurance?
This type of insurance covers chronic conditions, disabilities or disorders. If your parents do not have it or cannot afford to buy it, you can purchase it for them, he says.
Having the conversation allows you to prepare now if you need to start setting money aside for caregiving.
Estate planning is for everyone
Contrary to what you might think, estate planning is not only for the wealthy. It is also not limited to married couples or those with children.
Handing down your assets and handing over your financial responsibilities often involves making a will, creating an advance health care directive for if you are incapacitated and even having a separate digital will for your online life that includes login credentials and instructions on what to do with your social media accounts or assets such as cryptocurrency.
A simple first step you can take now is to log into all your financial accounts and designate a beneficiary for each one. Then you can turn to the bigger questions.
“The work starts with you sitting down and asking – what would you want to see happen if you were no longer around?” Mr Paré says.
Yes, it can be overwhelming to think about something bad happening to you. But creating a detailed estate plan spares your loved ones from having to sort out your financial affairs while also grieving your loss.
It can also minimise the potential likelihood of probate, which is the long legal process for distributing your property after you die.
You can use an estate plan to make your wishes and priorities clear, such as appointing a guardian for your children, deciding what happens to your pet or donating your money to a cause you care deeply about.
Asking your parents for their advice can also trigger a conversation about their estate plan and caregiving needs.
Getting the conversation going is a game changer for being able to tackle these topics
Lauryn Williams,
certified financial planner
Ms Williams suggests asking yourself these questions to make the process feel less abstract:
- What would happen if I were in the hospital for a while?
- What if I were incapacitated and had to undergo surgery? Who would I want to make the decision for me?
- Who would pay the bills or walk the dog when I am incapacitated?
If you start writing down your answers, you have already taken the first step towards making an estate plan.
You will need to hire a lawyer when you are ready to officially move forward.
Associated Press
MATCH INFO
Euro 2020 qualifier
Norway v Spain, Saturday, 10.45pm, UAE
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
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Company: Instabug
Founded: 2013
Based: Egypt, Cairo
Sector: IT
Employees: 100
Stage: Series A
Investors: Flat6Labs, Accel, Y Combinator and angel investors
The British in India: Three Centuries of Ambition and Experience
by David Gilmour
Allen Lane
Rooney's club record
At Everton Appearances: 77; Goals: 17
At Manchester United Appearances: 559; Goals: 253
ANDROID%20VERSION%20NAMES%2C%20IN%20ORDER
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MATCH INFO
Champions League quarter-final, first leg
Ajax v Juventus, Wednesday, 11pm (UAE)
Match on BeIN Sports
UAE tour of the Netherlands
UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match
More from Neighbourhood Watch:
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
TOURNAMENT INFO
Women’s World Twenty20 Qualifier
Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November
UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Company profile
Date started: 2015
Founder: John Tsioris and Ioanna Angelidaki
Based: Dubai
Sector: Online grocery delivery
Staff: 200
Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends
Results
Stage Two:
1. Mark Cavendish (GBR) QuickStep-AlphaVinyl 04:20:45
2. Jasper Philipsen (BEL) Alpecin-Fenix
3. Pascal Ackermann (GER) UAE Team Emirates
4. Olav Kooij (NED) Jumbo-Visma
5. Arnaud Demare (FRA) Groupama-FDJ
General Classification:
1. Jasper Philipsen (BEL) Alpecin-Fenix 09:03:03
2. Dmitry Strakhov (RUS) Gazprom-Rusvelo 00:00:04
3. Mark Cavendish (GBR) QuickStep-AlphaVinyl 00:00:06
4. Sam Bennett (IRL) Bora-Hansgrohe 00:00:10
5. Pascal Ackermann (GER) UAE Team Emirates 00:00:12
Oppenheimer
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