BY SUSAN KOSTAL OF CARING.COM
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:
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.
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.
A durable power of attorney for finances
A durable power of attorney for finances allows you to manage your parents’ financial affairs, pay bills, sell property, and so on.
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, …
Continue reading AGING & CARING: 5 legal documents you need for your parents »
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