What To Do When An Aging Parent Has Memory Problems

Having a parent that suffers with dementia can be both a tragic and difficult situation. This article discusses why it is important to be proactive about getting a Power of Attorney for an aging parent with memory problems. Getting a Durable Power of Attorney (DPOA) document can give a child the ability to manage their parent’s finances if that parent is not able to manage their own money. Every aging parent should have a DPOA because unexpected circumstances can always come up and it is important to be prepared. The consequences of not having a DPOA can involve an expensive legal battle like the one discussed in this column. It is a good idea to speak with an estate planning attorney about drafting these crucial documents.

See Carolyn Rosenblatt, One Absolute Must For Everyone Who Has An Aging Parent With Memory Problems, Forbes, January 11, 2016.