3 Legal Matters Adult Children Should Manage For Elderly Parents

3 Legal Matters Adult Children Should Manage For Elderly ParentsThe gift of a more stress-free life would probably be a welcome one for any elderly parent; helping them handle these legal issues can contribute a great deal to their quality of life:

  1. Estate Planning. Helping your parents plan their estate – or review and update their estate plan if it’s been several years since they have done so – is a thoughtful and generous gift that will keep giving. The first step is to help parents make a list of their assets, including possessions, accounts and retirement plans – and then take them to discuss an estate plan with an estate planning attorney.
  2. Choosing a Long-Term Care Facility. Discuss a long-term care plan with your parents, for when they are unable to manage on their own. Whether you plan for them to move in with you, hire in-home help or find an elder care facility they would enjoy, the sooner you make a plan, the easier the transition will be when the time comes.
  3. Protecting Parents From Scams and Abuse – The elderly are frequent targets of financial scams and abuse. Help prevent parents from becoming a victim by informing them of the latest news on these scams. You may also want to get identity protection services for them, as well as install a security and video monitoring system in their home, which can be especially helpful if they have or plan to get a caretaker.

With the proper guidance, you can protect your finances and spare your loved ones the frustration of having to make costly and difficult decisions.  Contact us for your initial consultation at one of our conveniently located offices in Fort Pierce, Stuart, Port St. Lucie, Vero Beach, and Okeechobee.

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