Senior Resources 2022 Northeast Directory

You Don’t Have to Do This Alone. Are You Prepared to Help?

Our carin g team of Elder Law p rofessionals is here to su pp ort y ou. Whether y ou are j ust be g innin g this j ourne y or have been hel p in g a loved one for y ears, our team will p rovide the g uidance y ou need. There is value in havin g a p artner on this j ourne y . Come and see what an Elder Law Attorney can do for you and your loved one. 920-574-9190 Your first a pp ointment is alwa y s com p limentar y . TO GET YOU STARTED, HERE IS A LIST OF THE MOST COMMON MISTAKES WE SEE FAMILIES MAKING:

What You Are Probably Doing

What You Should Be Doing

Why it Matters

Acting as a fiduciary on the account or using a trust.

Being a co-owner with your parent subjects their money to your liabilities. The account also becomes solely yours at their death. Having an updated Power of Attorney protects you from potential liability, prevents fraud, and allows you to continue acting for them if they lose capacity. Outright gifting results in a loss of control over their money and endangers their ability to get help when they need it.

Using a joint account with your parent to pay bills.

Forging your parent’s signature.

Make sure there is an updated Power of Attorney in place that allows you to sign documents, use online accounts, and manage assets legally. Work with an experienced Elder Law Attorney to create a plan to protect assets, afford care, and maintain control.

Accepting gifts from your parent.

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2022 S E N I O R R E S O U R C E S | 15

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