Help Your Elderly Parents Keep Paperwork in Order

In the event of a medical emergency or illness, to file income taxes, or apply for state or federal benefits, experts say it is helpful and maybe even lifesaving for seniors to have their paperwork in order. Important documents to have available to a family member or trusted friend include property deeds, history of financial income and medical information. For example, Stuart Furman, A Place for Mom legal expert and elder attorney, explains if your parent is eligible to apply for veterans’ benefits or Medicaid, they will need proof of past income and financial resources.

If you are the designated person, start by helping your parents compile a record of their bank accounts as well as sources of financial income including pensions, 401(k) information, and annuity contracts. In addition help them organize information regarding savings bonds, stock certificates, or brokerage accounts. File these documents along with all property deeds and titles to vehicles in a home safe where they are secure. Files should also include several years of income taxes as well as a list of credit cards and outstanding loans or debts owed to them.

If your parents have a living will and/or a durable power of attorney, you should have a copy as it is important in the case of a medical emergency to be able to quickly get your hands on such documents. Other things medical professionals say are important to get your hands on quickly is a list of medications your parents are taking, their medical history and insurance cards. Other types of documents to safely file or to create include end of life planning and estate planning.

At the MorningStar of River Oaks assisted living and memory care community, our goal is to be a true home distinguished by comfort, wellness and love. This is made possible through a dedicated team who understand how to provide residents with a quality of life other communities simply cannot match. Please ask about our Founders Club Rewards for Early Depositors.

Source: aplaceformom.com/caregiver-resources/articles/essential-documents

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