How To: Prepare for Power of Attorney

In the face of Alzheimer’s or related dementias, there are changes that can occur unexpectedly. When their cognitive function starts to decline, big decisions must be made. This is when power of attorney and other types of conservatorship are often mentioned. However, in the article from US News, the potential challenges behind this process is discussed. There is no direct way to handle this unfortunate situation. It is necessary to review all of the options available to make the best possible decision for you.

 

According to the article, power of attorney is difficult to manage alone. Interviews were conducted with others that have navigated the process of aging parents as decision making becomes impossible. The interviewees recalled the huge help of attorneys and financial planners. This can ensure that affairs are in order when your loved one can no longer make key decisions. It is important to have plans to make the process easier. The article recommends:

 

  1. Starting the planning process early- The earlier these steps are taken, the better. The deterioration can happen faster than originally planned. 

  2. Seeking legal assistance– Trusting professionals to help with important documents is helpful in eliminating room for error in important matters.

  3. Utilizing a financial planner– It is often a discussion on who will cover financial needs, such as hiring caregivers for respite. 

  4. Listening to the wishes of your loved ones- It is their money that is on the table, so their wishes should be considered before their mind starts to go. 

  5. Keeping your employer informed of the situation- While managing this process, prioritizing work does not seem like an option. Consulting your employer makes it so they can understand the situation and provide necessary support. 

  6. Keeping track of critical documents- Knowing the location of important papers, such as insurance documents, can save a lot of time as they move through the dementia process. 

 

This process is extremely complex. Using these steps can help alleviate some of the unknown aspects of the situation. Knowing your options can make the process less stressful. It can also ensure preparedness in the case of an unexpected emergency

 

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