A recent survey reported by the newspaper USA Today had some surprising findings for the growing group of Baby Boomers that are anticipating caring for their aging parents - only half can name any medications their parents take
Baby Boomers Becoming Caretakers A recent survey reported by the newspaper USA Today had some surprising findings for the growing group of Baby Boomers that are anticipating caring for their aging parents - only half can name any medications their parents take. The survey of 600 adults, ages 45 to 65, conducted for the Home Instead Senior Care network, also found: •31% don't know how many medications their parents take. •34% don't know whether their parents have a safe deposit box or where the key is. •36% don't know where their parents' financial information is located. What they are lacking is incapacitation planning and estate planning for their parents. In this case, an Advance Health Care Directive or Durable Power of Attorney would come into play in the event of a medical emergency. If your parent becomes incapacitated, an Advance Health Care Directive will: Provide instructions on how to take care of your parent according to their wishes; Indicate who should become their Health Care Proxy (person who makes medical decisions for them should they become unable to respond, i.e. a caregiver); Make sure a court will not be the ones to determine what your parent needs (do you or your parents want their money spent on what the court deems necessary/unnecessary?); Allow the Health Care Proxy to make medical decisions for your parent (authority can be unlimited, or conditional, depending on your parent's desires) Having an incapacitation plan in place can avoid the intervention of a court for guardianship or conservatorship proceedings, and allow the parents to make these decisions on their own while they are able. An estate planning attorney can work with your family to help put an incapacitation plan in place. They are also able to address elder law issues that seniors are facing today, such as asset protection, nursing home expenses and long term care. Experienced estate planning attorneys Fayetteville AR of the Deborah Sexton Law Office PA offers estate planning and business planning resources to residents of Fayetteville AR. To learn more about these free resources, please visit http://www.arkansas-estateplanning.com today.
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