5 Legal Documents You Need for Your Parents

These documents will ensure that you can assist your parents in a medical or financial emergency and, at their deaths, ease the distribution of their estate.

1. A medical directive
Also known as a living will or advance health care directive, this document sets out what kind of care your parents want to receive if and when they become ill or incapacitated. An advance health care directive is the primary legal tool for protecting a person’s healthcare wishes if and when he can’t speak for himself. The health care directive applies any time the person is unable to communicate, whether or not the situation is life threatening, and for however long is necessary. Examples are a patient’s temporary condition after an incapacitating stroke or his chronic state during the long-term, late stages of Alzheimer’s disease.

2. A durable power of attorney for healthcare and HIPAA release
A durable power of attorney for healthcare allows you to make healthcare decisions for your parents. A HIPAA release gives you access to your parents’ health records and physicians.

3. A durable power of attorney for finances
A power of attorney for finances is a document that appoints a person — or sometimes an institution such as a bank or trust company — to handle someone’s financial affairs. A power of attorney for finances can also be used to make life easier for your parents, for example, or loved ones even though they still make decisions and handle some financial matters themselves. Or it can be used to handle all their financial matters when they’re incapable of doing so themselves.

4. A revocable living trust
It allows your parents to retain control over their estate while making transfers of assets to beneficiaries. Your parents designate what property (home, investments, jewelry, and so on) goes into the trust and to whom it will be granted. During their lifetimes, your parents act as executors of their own living trust. A revocable living trust has an important advantage: it allows their estate to avoid probate at the time of their deaths.

5. A will
A will makes clear who will receive your parents’ assets and personal property. A properly written will helps to avoid disagreements over your parents’ estate after their deaths. Good estate planning is simply making sure that the financial assets that are most important to you and your family – no matter how much or how little — go to the intended recipients as quickly, cheaply, and easily as possible.

5 Legal Documents You Need for Your Parents originally appeared on Caring.com.

Caring.com was created to help you care for your aging parents, grandparents, and other loved ones. As the leading destination for eldercare resources on the Internet, our mission is to give you the information and services you need to make better decisions, save time, and feel more supported. Caring.com provides the practical information, personal support, expert advice, and easy-to-use tools you need during this challenging time.

Read more: Caregiving, Conditions, Family

By Susan Kostal, Caring.com senior editor

Disclaimer: The views expressed above are solely those of the author and may not reflect those of
Care2, Inc., its employees or advertisers.

Holly L.

9:23PM PST on Dec 7, 2011

This is so VERY important and we found out the hard way:( Thank you for making folks aware..

-Holly

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jennifer c.

6:44AM PDT on Oct 2, 2011

very informative. we learned the hard way when my dad got dementia

Abbe A.

3:26AM PDT on Sep 6, 2011

thank you

caterina c.

9:45AM PDT on Aug 30, 2011

9:40AM PDT on Jul 23, 2011

Hi John. . .my husband is in similar situation as you are. . .only with his younger sister. . .my mother-in-law has her daughter and other son signed on as Power of Attorney. . .his mother suffered a massive stroke 2 yrs. ago now May. . .she was in re-hab. . .is now in a home. . .she is able to talk and has her brain working just fine. . .
Her furnishings and home needed to be sold as she wasn't going to be going back since she's totally paralyzed on the right side. . .when her daughter comes from where she lives she causes havoc to all the nurses. . .she does nothing for her mother at all. . .she was staying at the house. . .my husband and I were going to travel there. . .to meet her and to start deciding on what was to happen to her belongings. . .she didn't want this so we stayed home. . .we went after she went back to her home with a moving truck. . .my husband's cousin was there as she was the only one to be trying to do what my husbands sister was supposed to be doing. . .we packed and moved out furniture so that it would be easier than having it all go to the dump. . .nothing was taken without the cousin's permission. . .now we are being called thieves as my husbands mother wants her belongings back. . .she has no room for more. . .the cousin storing what is of hers for seasonal changes doesn't want or have the room for more. . .what is to be done? ? ? No one knows. . .we just know what to do for ourselves with our son. . .good luck John. . .

Diana M.

10:11PM PDT on Apr 13, 2011

Thanks. Good to know!

Brenda T.

4:55AM PDT on Apr 12, 2011

Thanks for this information.

Robert O.

1:39PM PST on Jan 18, 2011

Thanks.

John D.

12:11PM PDT on Sep 12, 2010

What does one do when their siblings are underhanded and dirty? My brother and sister have made sure that my mom has written me out of her will and left everything to them and their children. I can't afford an attorney. My mom has not passed. I have tried to talk to her but she will have nothing to do with me. I have always called my brother the "GODFATHER". Last I heard he was going to have her put into a home. My sister says I will hurt him if he puts "MY MOTHER" into a home. I have asked them both what the problem is am I chopped liver or something? She is my mother too. If any one has any suggestions I would sure appreciate it. Or is this something I should just let go.
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Janice P.

9:55AM PDT on Apr 16, 2010

This article is full of good ideas. Let me add one other. Many libraries offer many of these legal forms online free, if you go through the library's services and have a current library card. Your local librarian can assist you in downloading the forms and you can fill them out yourself. That will save you the cost of having an attorney do it for you. The forms come with simple instructions. Just ask at your local library.