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re: is a power of attorney for aging parents a good idea?
Posted on 4/7/24 at 5:47 pm to keakar
Posted on 4/7/24 at 5:47 pm to keakar
100000% it’s next to imperative. Otherwise you run your chances in court and then everyone will have an argument.
Same goes for a medical POA. You can’t make medical decisions for your folks if you don’t have it in most cases. It saved me so much headache
Same goes for a medical POA. You can’t make medical decisions for your folks if you don’t have it in most cases. It saved me so much headache
1
Posted on 4/7/24 at 7:45 pm to idlewatcher
quote:
100000% it’s next to imperative. Otherwise you run your chances in court and then everyone will have an argument.
Same goes for a medical POA. You can’t make medical decisions for your folks if you don’t have it in most cases. It saved me so much headache
IANAL also but am going through this.
Just as important. If there are a few [aka. 5 years or more in Alabama, check your state regs] years left, get the aging parents to choose the most trusted adult offspring and quit-claim deed the parents property to the them.
Otherwise, when one parent is put into care, there will be a 50% lien placed on property.
As an attorney informed us a couple of years ago - only two groups come out of this unscathed... the wealthy and the destitute.
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