The best course of action is to get the entire family involved in the discussion about whether to take a reverse mortgage; at times the children understand the financial straits of their parents and, at other times, they can be vehemently against it.
Seniors should consult with an estate planning attorney or an elder law attorney to determine if this strategy is a good fit. The duty of the attorney representing the parents is to advise them regarding what’s in their best interests, rather than the interest of their children. Communication is the key, along with sound legal advice.