These advance directives make sure that their wishes and care instructions regarding life support, organ donation, and other medical issues are followed in the event of their incapacity. Regardless of your parents' current health status, they should state their healthcare preferences in a living will and healthcare proxy. Vehicle titles: Contact the Department of Motor Vehicles (DMV) in your parents’ state and request copies of the vehicle titles.ĭocumentation of loans and debts, including all credit accounts: Contact each creditor and request copies of loan and debt documents. Savings bonds, stock certificates, or brokerage accounts: Contact each organization where your loved one holds investments and request copies of the account documents.īusiness partnership and corporate operating agreements: Contact the organization where your loved one has a business partnership or corporate interest and request copies of the agreements.ĭeeds to all properties: Contact the county or city recorder's office where your loved one owns the property and request copies of the deeds. Tax returns: Contact the Internal Revenue Service (IRS) and request copies of your parents’ tax returns for the past several years. Pension documents, 401(k) information, and annuity contracts: Contact each organization where your parent holds a retirement account or annuity and request copies of the account documents. List of all bank accounts: Contact each bank or financial institution where your parent holds an account and request copies of statements for each account To avoid situations like this, keep track of the following important financial documents for your parents: Failure to provide this documentation could result in the denial of benefits or delays in processing their application. To qualify, your parent must provide comprehensive documentation of their past and present finances, including bank statements and tax returns. To qualify for Medicaid, seniors must demonstrate that their income and assets fall below a certain monthly threshold, usually between $900 per month for a single applicant or up to $5,500 per month for married applicants, depending on the state you live in. Medicaid is a federal and state program that provides healthcare coverage for people with limited income and resources. Seniors applying for certain benefits must demonstrate their financial needs and provide comprehensive documentation of their past and present finances. Having your parents' financial information is crucial to getting timely, efficient, and affordable care. Consider hiring a caregiver if round-the-clock care is needed. Having a caregiving plan and using shared caregiving apps can help families coordinate schedules and divide caregiving tasks. Identify potential safety risks by assessing home safety, investing in monitoring technology, & encouraging exercise and medication management. Obtaining bank statements, tax returns, medical history, durable power of attorney or healthcare proxy, and living wills can ensure timely, efficient, and affordable care. In this article, we will provide you with a comprehensive senior care checklist covering what you need to do to care for aging parents. In these situations, having an elder care checklist can help you stay organized and ensure that your parents receive the best care possible. You may find yourself struggling to manage your parents' finances, medical care, legal matters, and safety. As an adult child, taking care of aging parents can be overwhelming, especially when you don't know what to do or where to start.
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