According to a recent article in USA Today, a majority of Baby Boomers say they are likely to become caregivers for their parents. However, only half can name any medications their parents take.
USA Today cited a survey of 600 adults ages 45 to 65, conducted by a national Home Care Agency. The study found that a surprising number of adult children don’t know how many medications their parents take, whether the parent has a safe deposit box, or even where their parent’s financial information is located. Basically, the study showed that there is typically no planning and little meaningful communication between adult children and elderly parents. This “disconnect” often leads to serious problems when decisions need to made quickly for an ill or incapacitated parent, when there is a sudden hospitalization, or when the parent needs assistance. This failure to plan and failure to communicate usually means the adult children, who now assume the “caregiver” role, lack legal authority to make medical or other decisions, and are unable to access funds to pay the parent’s bills. This lack of planning can have devastating (and expensive) results.
The study also showed that people 65 and older account for about a third of all medications prescribed in the United States. Most seniors have multiple medical providers, multiple prescriptions, multiple health conditions, and are at the greatest risk of a life-altering and sudden illness. Adult children are often ill-prepared to assist their parents, especially when there has been no advance planning or legal documents prepared.
Dementia and other illnesses can complicate the process. Those affected often are unable to reason or think rationally, or even remember what assets they have. Some, due to the disease process, are easily agitated, and suffer from depression and/or paranoia. At that point, it is often “too late” to plan, as the parent may lack the capacity to understand the process or execute legal documents. It is important to know the options, have the correct legal documents, and have a plan in place. The courts are packed with adult children trying to help their parents (at great expense) – but they learned too late that advance planning was needed.
For more information, please visit our website at www.JaneMcNamara.com. For an appointment, please call the Law Office of Jane M. McNamara at 661-287-3260.