Estate Planning Isn’t Just For The Elderly

Happy, smiling couple in their sixties.

Signs its necessary to establish a guardianship

On Behalf of | Feb 5, 2019 | Guardianships

No matter our age, we tend to show our love for our parents. And after putting in years to raise us, we are often ready and willing for these roles to reverse in the later years of their lives. Caring for an elderly parent is not only common in New York, it is often something one prepares for. It is difficult to consider assigning guardianship of an aging parent, but it is a step that is often necessary to take.

Unfortunately, aging adults are not completely transparent with their health, and f their health is depreciating, this could impact the decisions they make financially and with their health. No one wants to see his or her loved one is a more challenging predicament; therefore, establishing a guardianship can be necessary.

Even if one is afforded a power of attorney, there are sometimes clear signs when it is important to take the steps to establish guardianship. The first is the refusal to sign a power of attorney. Although this is rare, if a parent refuses to sign and estate planning document following a serious diagnosis, especially one that impacts memory, this could be a clear sign. Another sign is when real property or investments will need to be sold. Having someone take over this task could help ensure a parent’s interests are protected.

Other signs include having disagreements about nursing home, the need for medical intervention for the health and wellbeing of an aging parent or when their decision-making is compromised. These signs, although not exhaustive, can help one understand when it might be necessary to push for guardianship of an aging parent.

While it may be challenging to bring up or address this issue, establishing guardianship can be a very positive experience. One is taking these measures to help a loved one; however, it can be an emotional and confusing process. This makes it vital to understand the process and how best to navigate it.