How to Make Legal Decisions for My Elderly Parents
As our parents age, there will be a time when they may no longer know what's best for them. Financial, medical, estate planning and other decisions may need your guidance or determination. The last thing any child wants to be saddled with is making these decisions without the legal permission to do so. There are many legal steps you can take to ensure your parents best interests are considered as they age, including trusts and powers of attorney.
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Things You'll Need
- Legal Advice
- Legal Documentation
- Written Documentation of Your Parents Wishes
Instructions
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If your parents have already reached a point where rational discussion is not a viable option, you will have to go through steps to have them declared mentally incompetent. The process will differ by state, but essentially a court will have to appoint you as their guardian and grant you power of attorney over their care. From this point you will be able to make decisions regarding medical, estate and residential care.
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With your parents, discuss their plans and "what ifs" in regards to medical care, wills, estate planning and competency. If your parents are still competent to make these decisions themselves, determine with them at which point you will need to step in to assist.
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Durable powers of attorney are recognized by most states. A durable power of attorney appoints you as the "agent" and legally responsible for decision making.
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Living Wills help make medical care decisions easier. If your parents know they will not want extraordinary life support or medical measures to prolong their lives in case they are permanently incapacitated, a living will can help determining a course of action when presented with such a decision.
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Trusts and wills help with estate planning, and laws differ by state. Essentially planning with your parents on divesting their estate can help offset potential legal costs and battles after your parents can no longer care for themselves or pass away.
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Tips & Warnings
Some states also have "springing" powers of attorney, which define specific events in which the power of attorney and decision making powers are activated. Some families may prefer to utilize this option as a way to transfer the decision making. All legal documentation and decisions should be made with advice from legal authorities.
