Gus, My stepfather died in March of 2006. Mom"s health was failing proir to that. She does have some competence left, but just forgetful. I approached her last summer about changing her will. She was agreeable, but took pushing to get it done.
You need a DURABLE power of attourney for most all financial decisions. Some institutions may not even recognize this. Ask your attorney. Also, get a medical power of attorney. It is a must. You may need to update their will as well. Cost to my mom, about $500.
Go to a welfare or social service office and they will specifically tell you what your parents can have and still qualify for medicare, I was told $2000 in cash, the residence and adjoining land if it is all covered by one deed, personal items, and a car. It can be a clunker or a Rolls royce, doesn"t matter.
Find out what medical insurance they have and learn about it. There will be open enrollment soon for the prescription plans if they do not have a supplemental policy, one that pays what Medicare does not. You may need to investigate these.
You have a lot to do, but when it is over, you will not regret it. Good Luck and I hope this helps a little.
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Today's Featured Article - Fasteners: The Nuts and Bolts of Nuts and Bolts - by Curtis Von Fange. The nuts and bolts of nuts and bolts is an interesting and essential piece of knowledge that applies to our older tractors. An improperly torqued capscrew on an engine head or a shear bolt that is too hard on the driving shaft of a bushog can create havoc and make an expensive and uncalled for repair. Let�s examine the purpose and design of these fasteners in order to ensure their proper use. Fasteners are probably one of the aspects of mechanics that is given the least amount of thought.
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