 Elderly Parent (by dino [CA]) Nov 20, 2022 5:19 AM
 Elderly Parent (by Vee [OH]) Nov 20, 2022 6:25 AM
Elderly Parent (by Still Learning [NH]) Nov 20, 2022 7:17 AM
Elderly Parent (by myob [GA]) Nov 20, 2022 8:05 AM
Elderly Parent (by RB [TN]) Nov 20, 2022 8:35 AM
Elderly Parent (by Robert J [CA]) Nov 20, 2022 10:27 AM
Elderly Parent (by myob [GA]) Nov 20, 2022 11:17 AM
Elderly Parent (by Larry [MN]) Nov 20, 2022 3:17 PM
Elderly Parent (by dino [CA]) Nov 20, 2022 8:57 PM
Elderly Parent (by dino [CA]) Nov 20, 2022 8:57 PM
Elderly Parent (by Howard [WY]) Nov 22, 2022 5:43 PM
Elderly Parent (by Susan [FL]) Nov 23, 2022 3:50 PM
Elderly Parent (by Don [PA]) Nov 27, 2022 1:50 AM
Elderly Parent (by dino [CA]) Posted on: Nov 20, 2022 5:19 AM
Message:
If elderly parent owns real estate and has other assets but is losing ability to sign name, I believe that the preferred document to have in place is a durable power of attorney.
However once dementia becomes significant, having a document such as that to be notarized might become difficult.
I'm thinking that at that point the only alternative would be to go into court and be appointed as conservator which seems like big issue.
Am I right, is that the only choice remaining?? Unless a living trust contains some provision for that. Does anybody know if a living trust typically addresses that issue?? I can brush off the dust and take a look at that since I've never read it.
--104.175.xx.xx |
Elderly Parent (by Vee [OH]) Posted on: Nov 20, 2022 6:25 AM
Message:
Always a good idea to have a basic understanding of a document before enlisting internet opinions on what the document reads and controls. --76.190.xxx.xxx |
Elderly Parent (by Still Learning [NH]) Posted on: Nov 20, 2022 7:17 AM
Message:
I’m not sure this achieves what you are looking for but I had a tenant that had a representative payee. That was the person that wrote the rent check and controlled the money. --75.67.xxx.xxx |
Elderly Parent (by myob [GA]) Posted on: Nov 20, 2022 8:05 AM
Message:
If there's a trust set up there should be power of atty doc's already part of that trust. Don't you have a health care proxy doc? If not you gotta get that asap.
For those who are older: you need a health care directive a health care proxy (AKA power of atty) if you plan on dying with dignity. Let it be your instructions-- something you want not a family member choice. --108.239.xx.xx |
Elderly Parent (by RB [TN]) Posted on: Nov 20, 2022 8:35 AM
Message:
Retiring with dignity, OK.
Dying with dignity? Not without kicking and scratching. --24.183.xxx.xxx |
Elderly Parent (by Robert J [CA]) Posted on: Nov 20, 2022 10:27 AM
Message:
The parents need to have a current Family Trust and Wills too. In them they should give the authority for someone to make decisions in the management of the rentals, when they are declared by a doctor, judge or attorney as not being of complete sound mind.
I as a contractor for friends over a 25 year period, I was given the authority to make "repair" decisions when both parents could no longer take care of their properties. I was a friend and had nothing to do with rents, money, etc. Only repairs.
That's until one day a garbage disposal died in a new tenants rental. On of the owners son's said I was stupid not to just remove the disposal and replace it with a sink drain strainer. It would save them money in the long run. They decided to fire me and use their handyman instead.
They removed the new disposal and made me take it back. They they learned the hard way why the tenant stop paying their rent. Their lease provided for a garbage disposal and with it was removed, that was diminished services and the rent should have been adjusted down around $50 per month. And the handyman just twisted wire nuts on the wires that used to provide power to the disposal. not in a metal closed box, not to code.
Then the eviction court ruled the tenants did not have to pay the last 3 months rent and the owner had to re-install the disposal (as per the lease). And they had to pay an electrical fine for shouty work also. --47.156.xx.xx |
Elderly Parent (by myob [GA]) Posted on: Nov 20, 2022 11:17 AM
Message:
RB how young are you?
I'm not asking to really know but unless you've been around you have no idea how degrading it can become. Not intentional in almost all cases but I say go visit a nursing home and see for yourself-- maybe you'd change your mind. --108.239.xx.xx |
Elderly Parent (by Larry [MN]) Posted on: Nov 20, 2022 3:17 PM
Message:
We went through this with my father. By the time we tried to get power of attorney he was too far gone with his dementia. An elder attorney went to visit him and determined he didn't understand what he was signing. Which we couldn't argue with. Yes, next step was to get a court appointed guardian which is expensive and complex. --68.46.xx.xxx |
Elderly Parent (by dino [CA]) Posted on: Nov 20, 2022 8:57 PM
Message:
Larry,
You mentioned a court appointed guardian.
Are you saying that must be a total independent stranger (which would be terrible) or can it be family member??
--104.175.xx.xx |
Elderly Parent (by dino [CA]) Posted on: Nov 20, 2022 8:57 PM
Message:
Larry,
You mentioned a court appointed guardian.
Are you saying that must be a total independent stranger (which would be terrible) or can it be family member??
--104.175.xx.xx |
Elderly Parent (by Howard [WY]) Posted on: Nov 22, 2022 5:43 PM
Message:
Just went thru this in Wyoming. Here you need attorney to do the paperwork and get the court dates for Guardian/Conservator. Not really that complicated to do. Family member is ok. Cost about $1200 to $1500. Probably more there. Don't wait. Get it started right away. --174.234.xx.xxx |
Elderly Parent (by Susan [FL]) Posted on: Nov 23, 2022 3:50 PM
Message:
A firm or attorney who specializes in ELDER CARE is worth their weight in gold. I encourage everyone who has elderly parents or family members they are caring for to seek the council of such a team. They will, of course for a price- well spent- position all in the best manner to care for the Elder and their estate during and after their life. And yours as well. I can not stress this enough. I LOVE my team, they helped me navigate Medicare, Medicaid, nursing homes, having documents in place, rentals, probate, as well as fiduciary responsibilities being executor. Each state has it's own laws. Do not leave this up to opinions, or other people's experience. --142.196.xxx.xx |
Elderly Parent (by Don [PA]) Posted on: Nov 27, 2022 1:50 AM
Message:
You write that they are losing their ability to sign their name. You probably mean due to mental degradation. However, if it is a physical inability, they may be able to sign by an X Mark. --73.194.xxx.xxx |
Reply:
|
|