When Should Elder Parents Start Making Legal ... - Milo Law

Beth Ann Miller of Dallas, Texas asks :

My parents are in their late 60's and my father was recently diagnosed with early stages of Alzheimer's disease. The subject of estate planning has never been brought up with the family but I'm worried my father hasn't adequately prepared for something like this. He tends to be a very proud man and is closed to discussing personal finance or health concerns. My mother has never dealt with the household finances without my father so I'm very worried she'll be overwhelmed with the responsibilities of caring for my father while managing the household finances. My brother and I are both out of state, so our involvement would be limited at best. Should my parents start making legal arrangements now or should they wait until the situation worsens?

Beth Ann,

So sorry to hear about your father's diagnosis but there are certainly actions your family can and should take to ensure your mother is well cared for in the event your father's situation takes a turn for the worse. To begin with, you should speak to your parents about seeking counsel from a Dallas elder law lawyer who will be able to assist your family in setting up a plan of action based on your family's specific needs. There is no cookie cutter solution but things that come to mind would be setting up a Spousal Care Trust and relegating Powers of Attorney to your mother or another family member.

It is always advisable to make these important legal preparations in advance for seeable and unforseeable circumstances that can and will arise from an Alzheimer's diagnosis. For a more thorough evaluation of your family's specific needs, you can begin by contacting a Dallas elder law firm and speaking to a qualified legal advisor. Waiting until the last minute could cause undue stress at a time when the primary focus is caring for a loved one.

Source: http://www.milolaw.com/when-should-elder-parents-start-making-legal-arrangements/

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