We frequently advise clients who are in “crises” mode due to a sudden medical emergency. It is very difficult for the family when the senior hasn’t adequately planned for illness or incapacity. The family often finds that they don’t have the legal tools or information needed to handle the medical and financial affairs of the ill senior. Financial institutions, insurance companies, and medical professionals won’t speak to the family without proper legal authority.
Our suggestion to all seniors is to take a little time, and consider the following “top tips for seniors”:
• Make sure your legal documents are up-to-date and, at a minimum, include a Durable Power of Attorney, Advance Health Care Directive, and HIPAA release.
• Give a copy of your Advance Health Care Directive and HIPAA release to your Agent named in the document. Put a copy on your refrigerator for easy access in the event of a medical emergency.
• Review your assets. Make sure beneficiaries are designated, or the assets are titled in the name of your Living Trust. If you were suddenly incapacitated, could someone pay your bills, know where your accounts are, and access funds legally?
• Read your legal documents to make sure they reflect your wishes, and make sure the documents contain provisions for long-term care issues and ways to restructure assets in the event expensive care is required.
• Create a binder with your important information, and show it to your trusted family members. The binder should contain a copy of Medicare/insurance cards, doctor’s names and contact information, list of prescription medications, location of safety deposit box, information about military service and/or pension information, and a copy of your Durable Power of Attorney and Advance Healthcare Directive/HIPAA release.
Medical emergencies strike unexpectedly. A little planning can go a very long way.
For more information, please contact the Law Office of Jane M. McNamara at 661-287-3260, or visit www.janemcnamara.com. Veterans may be interested in www.vabenefits4seniors.com.