I have posted blogs in the past on this topic but after meeting with some clients today I realize it is worth a reminder. If you do not have a power of attorney document for both healthcare and financial matters for your parents or any other senior you care for you need to get one now.
This is often something we do not think of until we need it and then it has already caused a lot of frustration and problems . I am not an attorney, however I do know that you can easily get these documents on the internet from various companies for free. You will also need to get them notarized. If you have concerns about specific situations or other things regarding the documents you can always have an attorney review them. As long as they are signed properly, witnessed if necessary and notarized that should be fine.
The people I spoke with today have a parent in the hospital with medical issues and are not sure what is going on with them medically and are concerned they may need to put him in a senior care facility. They do not know how much income he has or savings if any. They do not know where the bank is either. It is really important to make sure you have this information somewhere for your parents in case you need it. Create a document that has all assets, income, banks, financial institutions, doctors offices, passwords and any other information someone may need to handle finances and health issues. I can't tell you how important this is and hopefully you never need it. Click link below for an easy form you can use.