Taking over your parents’ estate can be a very stressful time. Firstly, you are reconciling with the fact that your parents are functioning at a lower level, which can be distressing. And secondly, their accounts can be unorganized and difficult to access. This week we want to learn more about how to take over the estates of our elderly parents in a respectful, legal, and efficient manner.
If a parent becomes incapacitated, it is usually their children who are expected to step up to the plate and handle their finances. But we are finding out that most families are not prepared for such a situation. We want to learn how best to handle this situation, and what legal steps can be taken before such a situation occurs.
We look to our legal resource network to learn more:
How should you prepare to take over your elderly parents’ estate?
How can you help them prepare their wills and get their estate in order respectfully?
Do you need to be named Durable Power of Attorney (POA) to access their accounts?
What information do you need to be prepared to take care of your parents’ finances?
We look forward to learning more about this sensitive topic.
Please post your answers in the comment field below!