If your parent is widowed or alone and aging, it's important to make sure they have a will in case something happens. If they haven't set one up because they think they have time, it's important to explain the important assets and issues that are at risk. A sudden unexpected accident could require the need for a will.
People assume everything will just go to their children and everyone can have what they want when they pass, or that their children can make medical decisions about them, but that isn't how it works. You'll want to talk with a probate lawyer about the following things.
Medical Power of Attorney
Do you have multiple siblings or siblings that live far away? Your parent may want to pick one child that has the ability to make medical decisions for them, or maybe one of their siblings. It may be something they don't want to weigh on their children, or something they trust one child to handle the most. Without a medical power of attorney, it can be hard to stop a ventilator from going in, making decisions at the hospital and more.
Create a Will
Without a will, your parent's property will belong to the state. They decide what to do with assets if someone doesn't get appointed at the administrator, the state will put a value on things, and the state will deal with the debts. Talk with your parents about a will to make sure that family heirlooms stay within the family, and to ensure that their things aren't auctioned off.
Appoint an Executor
Not only do they need to have a will, but they need to have an executor. This is someone that is going to see out the will to make sure everything happens that your parent wishes. This can be the lawyer, a paralegal at the law firm, one of their children, a sibling, or even a close friend. Anyone they trust is perfect.
If your parent has been putting a will on their list of things to do and you know it hasn't been done yet, take the time to meet with a probate attorney, like Gruber & Associates, PC, and get everything figured out. Have your parent bring all of their financial records so you can make a list of debts and assets, so you can accurately figure out the will when you are with the lawyer for your consultation.Share