Acharya Prashant explains that the relationship between parents and children exists on two levels: the physical and the conscious. On the physical level, a child owes a definite debt to their parents because they received their physical existence and upbringing from them. Therefore, it is the child's responsibility to provide for the parents' physical, financial, and medical needs as they age. However, he clarifies that one should fulfill their legitimate needs, not necessarily all their demands, using the same discretion parents use when raising a child. If a parent makes irrational or improper demands, the child must use their own wisdom to decide what to fulfill.