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Why Do Your Parents Need an Estate Plan?
October 22, 2019 at 9:00 AM

Your parents are aging and there may come a time in the not too distant future where they have a health scare or incapacity of some sort (including dementia). Are you or a sibling legally prepared to help them? It is critical to work with an Estate Planning or Elder Law attorney in the county and state where your parents reside to establish a Health Care Directive with Living Will, a Durable General Power of Attorney and a Last Will and Testament or Revocable Living Trust for them. Often a family meeting where one or more of the adult children attend is very helpful (with your parents' permission of course) to establish a game plan and decide which child is best suited for each role. For example, a Health Care Agent should live close by if possible but an Agent for Financial Power of Attorney need not. Similarly, a family member or friend who is a doctor/nurse/medical provider would be an excellent Health Care Agent and get professional courtesy and better communication from your parents' doctors and a family member or friend who is a banker/lawyer/accountant would speak "bank" for your parents' financial transactions. We look at all options for elder parents to create the best available pathway for aging.