Professionals Can Help Manage Older Parents" Affairs

By The | St Louis Post-Dispatch (MO), October 13, 1993 | Go to article overview

Professionals Can Help Manage Older Parents" Affairs


The, St Louis Post-Dispatch (MO)


PEOPLE on the leading edge of the baby boom generation turn 47 this year, and more of them are faced with the responsibility of caring for an older parent or relative.

This issue is compounded by the mobility of U.S. society, forcing many of these children of older parents to manage their parents' affairs from a distance.

"A primary goal of many people in this situation of caring for an older person is to help the parent remain independent, staying in his or her home as long as possible," says Jan Walsh, who specializes in retirement planning for the College for Financial Planning in Denver.

Walsh said that whether you manage your parent's affairs or merely assist in the process, it is important - particularly if there is some geographic distance involved - to have professional help.

While a financial planner can help organize the financial aspects of an older person's life, the critical areas can also benefit from qualified advice and counsel. These include estate planning, incapacity and life-care planning, said Walsh.

Some of the medical, estate and financial issues can be planned for by drawing up certain documents, including a durable power of attorney, a durable power of attorney with health-care provisions, a health-care proxy and a living will. The vehicles available to you will depend on your state law - which can vary significantly, cautions Walsh.

"This is particularly true if you live, for example, in Los Angeles, and your parent lives in Miami. Your local attorney may have a perfectly good grasp of the ins and outs of California estate law, but may not be aware of some critical component of Florida law that governs your parents," she said.

"The goal of the power of attorney with health-care provisions is to help manage the financial and medical care of an older person when he or she becomes unable to make decisions," said Walsh.

This legal tool allows a person to appoint an agent who is authorized to make financial and medical choices in cases of incapacity.

Walsh also recommends taking the time to find a lawyer who specializes in elder law to help with this planning effort. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Professionals Can Help Manage Older Parents" Affairs
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.