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Financial and Legal Information for Caregivers
What You Need to Know
By Melissa Granberry
While you can create wills, powers of attorney or health care directives through forms found right on the Internet, using an elder law attorney might be a better choice. They can make sure that no steps are missed in the process.
Hiring an elder law attorney was a tremendous help to Glendora Horton, of Columbia, S.C. After building a new house and establishing a will, she and her husband felt comfortable knowing that their affairs were in order. Tragically, Horton's husband soon suffered a stroke and was left incapacitated. Though their will was intact, they did not have a power of attorney to allow Horton or their children to carry out her husband's responsibilities.
However, Horton's attorney arranged for a representative from the state to meet with her husband and verify his mental and physical condition and helped them get all the necessary legal documents in place.
Planning now will leave you with less to worry about in the future and more peace of mind today. Take the first step and talk to your family about preparing all the necessary paperwork – before it's truly necessary.
Caring for a family member can be the most loving gift a person can give, but this gift can also raise some uncomfortable questions, such as the following:
- If one sibling puts his or her career on hold to care for a parent full time, should other family members compensate that sibling?
- Should a larger portion of the inheritance be given to the caregiver?
- Will any inheritance be remaining after the cost of long-term health care?
These are important questions to address, and family members should sit down together and discuss how each should be handled. An attorney can prepare a written agreement outlining family members' expectations to help eliminate discord down the road.
