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Originally Posted by psyang
Thanks, Cap. With my dad having suffered what we believe to be a mini stroke, and losing basically all of his short term memory, we've been thinking about what the future holds with my parents.
My wife and I just updated our will, and we've also completed a Personal Directive and Power of Attorney. We'll obviously be chatting with my parents about these too. In the meantime, are there any other legal things we should try to take care of while we are healthy to help ease the burden on our children/caregivers later on down the road.
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The power of attorney and personal directives are huge. With my Dad not being able to be Mom's personal care giver we had to do renunciations on the ones that listed him as primary care giver.
The financial side of things is difficult. My Dad and Mom went to the bank a few years ago because my mom was starting to show so my Dad took over their finances, and the bank made him sign sign a power of attorney over her affairs. This is a pain to untangle so that us kids can access my mom's finances.
I've got my Sister working through this as she was a lawyer so she can coordinate with our lawyer.
Other then that it sounds like you've done the right things, but I can't emphasize enough what Locke said. Have that conversation with your parents or family members now, because if a family member has functional issues and you don't have the documentation taken care of it can be painful and expensive to untangle it all.