Categories: Legal and Finance for Seniors

Legal Planning Tips for Your Aging Parent or Relative

Are you helping your aging parent or relative plan for the future? If so, it is important to find a lawyer that you can trust as you will be discussing with him or her a lot of sensitive information about your aging loved-one’s situation.

All the documents relating to the property (assets) of your aging relative will be needed. Therefore, it is essential to gather these documents ahead of time so you can bring it during your meeting with the lawyer.

In This Article:

Things to discuss with the lawyer
Things to do prior to your metting with the lawyer
Legal planning tips for seniors

Be sure to discuss the following key issues with your lawyer:

Options for health care decision-making for your aging relative.
Options for managing the person’s property.
Possible coverage of long-term care services, including what is provided by Medicare and other Heath Insurance Plans.

Checklist for the Meeting

The following items should be gathered ahead of time as you will need to bring these to the meeting:

Itemized list of the property (assets), including current value and the names listed as owners or account holders
Copies of all estate planning documents, including wills, trusts and powers of attorney
Copies of all deeds to real estate
Copies of recent income tax returns
Life Insurance Policies and cash values of policies
Health Insurance Policies or benefit booklet
Admission agreements to any health care facilities
List of names, addresses and telephone numbers of involved family members and caregivers as well as financial planners and/or accountants

Helpful Tips for Legal Planning

All those named in the power of attorney document need a copy of and access to the original document
Name a successor (back-up) agent for power of attorney; your agent may one day be unable to act
Consider a neutral third person as an agent to have power of attorney, if family members don’t get along
If a 1) power of attorney for health care document and/or a 2) signed living will is in place, give a copy to physicians and other health care providers
See if the agent for the power of attorney for health care has authority to consent to a brain autopsy
Consider choosing a bank to manage the estate, if you lack a family member with the time or expertise

Articles Related To Legal Planning:

Source: Alzheimer’s Association

Kate Allado | Senior Advocate / Care Advisor( State Licensed Certified Administrator | Co-Founder at SeniorCareHomes.Com )

Catharine “Kate” is a Certified Administrator for Residential Care Facilities for the Elderly (RCFE) and an Expert Senior Care Advisor. Kate’s grandmother battled Alzheimer’s Disease and Kate personally understands what millions of families are going through. Kate and her team are very passionate in empowering Seniors and their families by providing them with the Best Available Senior Care Options based on Senior’s care needs, preferred location and family’s budget.