Top Five Actions Needed to Protect the Future of an Aging Parent.
It is inevitable that in the life cycle of every family children will be called upon to assist parents to manage their affairs.
It is inevitable that in the life cycle of every family children will be called upon to assist parents to manage their affairs. Whether it is diminished physical mobility or diminished mental capacity, most often children are called upon (willingly or otherwise) to become involved with the life of their parents. Typically it is chores and errands! Then, it may be help managing doctors’ visits and medications. But, a child should also include assistance with financial and legal affairs of a parent to round out his or her scope of duties.
None of the parties may be anxious to explore these aspects of a parent’s life, but nevertheless, they should be considered! Listed below are the top five most effective actions to be taken by a child which I have encountered as an Elder Law attorney. They are listed in order of priority, but all are essential to insure the medical, financial and legal life of an aging parent. While often uncomfortable for both parent and child, these actions need not involve a reversal of roles.
In fact, they are most successfully completed if both parties are active participants.
- Make sure their Power of Attorney is up to date.
- Make sure their Health Care Proxy is up to date.
- Make sure you have access to their internet pass words.
- Make sure their Will is up to date.
- Make sure their beneficiary designations are up to date.