The Right Estate Planning for an Aging Parent
No one wants to think about their own mortality or even the idea that at some point in life we may no longer be mentally fit to make our own decisions anymore. However, the aging process is a fact of life, and these matters need to be considered. How can you help an aging parent before a situation arises where he or she can no longer make sound medical or financial decisions?
Executing the Right Documents to Protect an Aging Parent
The best thing to do is to take time now with your parent to discuss these decisions. Then execute estate planning documents that allow you to carry out your parent’s wishes should he or she become mentally incapacitated.
A Trust can be vital even in the case of temporary incapacitation so that you can make the needed decisions and carry out your parent’s wishes as outlined in the estate planning documents and through your previous verbal communication.
Documents such as an Advance Health Care Directive let you know what your parent’s medical wishes are. If your parent doesn’t want to be kept alive on machines for years if death is a medical certainty, stating so in such a document can relieve you of the guilt of giving the order to turn off the machines. HIPAA Authorization is also important. It will be difficult to make medical decisions if your parent’s healthcare provider cannot legally share relevant information with you.
Assistance in Executing Estate Planning Documents that Benefit Families
Families are important to us at Petrov Law Firm. Helping families to understand how estate planning works and helping people to execute documents properly is just one of the things we do for our clients. Contact us today at 619-344-0360 to get started.