It can be very difficult to talk to our loved ones who are very ill. But putting off difficult conversations can cost them and you. Not just in terms of money, but in terms of lost time and broken relationships with that loved one.
What do I mean? Frank was a good guy. He was not doing well, but his wife was doing even worse. Frank talked to her about trying to get a power of attorney set up for her so he could help manage her assets. She didn’t want to talk about it, and Frank, being a nice guy, didn’t want to push it. After all, there was plenty of time. He would bring it up from time to time, and she would shoot him down. After a few years of this, Frank’s wife took a turn for the worse, and she was no longer legally able to sign a power of attorney. The problem came when Frank was trying to qualify them both for governmental benefits. He had to make some changes financially, but was unable to do it because he lacked a power of attorney. His alternative? A relatively more expensive guardianship. Not only is that something she would have handed to avoid, she could have done so by signing a power of attorney a few years ago when he first brought it up.
If you need help talking with your loved one about their documents, give us a call at 214-292-4225. We do this every day and would be happy to talk with you.