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Free Advice To Elderly Guardians (2022)

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by Dan

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when 1 month ago

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Good morning this is Doug,  and I am Cindy, Welcome to ELP Brief. Thanks for joining in today.

DOUG: This is the program where we answer your caregiver question.  and please click the notification bell so you"ll be notified of future videos that we do.

DOUG:  Today, we've got a good one that talks about guardianship.

CINDYL Oh!!

DOUG:  That's issue we don't like to talk about a lot of times, but sometimes it's necessary so we're gonna give you a couple of situation we've seen where, unfortunately, It was absolutely necessary. Now as a precursor to this, It's always good to do what?

CINDYL Power of Attorney 

CINDYL For Finances and a healthcare power of attorney.Those two things, Absolutely.


DOUG: Yeah, and if you've got, and in most cases we have seen if someone had a good power of attorney, and naming the kids or naming the spouse, and then the kids as backup, that may be all you need. That may be it. and if you've got a power of attorney, make sure it you know it. get it reviewed, because those that were done back in 1940 that's just on one page, might not have enough stuff in it, Might not have enough language and it might not be specific enough, may not have given enough, specific authority to the person that you're appointing to make decisions for you. 

CINDYL You know, That's a good point, because a lot of people will download them from the internet, and the language that you need is not there, and we have seen it where this has happened, the language that a broker needed for wife to get at husband's IRA didn't work, so a need for a guardianship.

DOUG: And, you know, and we have seen situations like that one the years where, and that sometimes is the way it would typically come up, that one of the spouses would have assets in a particular brokerage company or bank, and the other one couldn't get access to it because maybe the power of attorney didn't allow them to do that, or maybe they didn't have a power of attorney, or maybe dad's deceased and mom's going into the nursing home, or is in the hospital, and the kids need to get access to mom's money to pay some of her medical bills, and they can't get access to it because--

CINDYL And she can't sign a power of attorney now, 'cause she's had a stroke.

DOUG: -Yeah, or she's got Alzheimer's and she's lost capacity and it's too late to sign it. So in some cases like that, there's no recourse but to do something like guardianship procedure. Another one that we've seen many times over the years is where, and you know, there's kind of a zone where mom's okay, she's been okay for the last hundred years, she's been perfect, and then, but now she's started declining, and maybe she's got early Alzheimer's, and it's not really bad enough to be real bad, but yet the kids are just really concerned about her. And, you know, they go talk to her and say, "Mom, we, I think you need to go to the doctor." "Well, I think you need to go to the doctor, I'm fine."You know, "Mom, we need to get some help in here." "I'm fine, go away, leave me alone."

CINDYL So if she's of that attitude, then she's not gonna sign a power of attorney. 

DOUG: Yeah, and you know, maybe, maybe not, maybe she's got the power to sign, or capacity to sign a power of attorney, but in the early stages like this, sometimes it can just be really difficult, and of a concern. I mean, maybe she's still driving and the kids are thinking, "Mom don't need to be driving." And she's still out doing, you know, banking business and talking to people, and they're concerned mom's gonna be taken advantage of. You know, she's not, maybe she's not eating right, she's not taking her medicine. They're just really, really concerned about her, and in situations like this, where she hasn't signed a power of attorney, won't sign a power of attorney, basically is not cooperating and her, maybe her health is at stake, her safety and the safety of other people, then sometimes, something like a guardianship has to happen, unfortunate, it has to. 

CINDYL -Another time is when they're in the hospital and the health issues are so serious that they'll tell, the doctor will tell them, "You need a guardianship for your mom or your dad."

DOUG: - Hope these tips help. Not easy situations, they're difficult situations, but hope these tips help. Thanks for watching today. Again, comment below. Have a good day. 

CINDYL Thank you.

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