Older client questions

[Catherine]

Hi folks --

Going to see a couple on Friday; he's mid-90's and she's a couple of years less.

Talked to them both on the phone yesterday and he's failing. He's had some falls and his hearing is even worse. Still sharp (once you can get through the hearing problem), but decidedly weaker. He's worried about his estimated tax payments; a tree fell on their house and damaged the area where he keeps his records. They've asked me to come over, and I'm bringing a new POA so I can find out what they've sent in already.

Can anyone advise me on anything else I should bring up with them? I have some ideas but so many folks here have so much more experience. I'm really sad to hear the changes (inevitable but still); I really like this couple.

TIA,

Catherine

[TAXBILLY]

I would diplomatically ask them if they have a close relative (son, daughter, sibling) who has POA for each of them. With their permission you might want to talk with that person about health surrogate, living will, will, possible living trust. You don't want to be intrusive but you want to help them out if you can about necessary items such as beneficiaries, etc. I know from experience when my mother passed away in May (Alzheimers) that with the privacy policies in place it can be a problem if one has to deal with nursing homes and hospitals. This way you can also let that person know that you are available for possible advice or information they may need.

taxbilly

[zeke]

Who else has POA? - avoid family fights if at all possible.

Attorney, will, living will.

Liability insurance!

I commend you Catherine! and, (dare I say it) - your Christian spirit. You may or may not be adequately compensated for your time. The energy and thought you invest in this endeavor can only be balanced by the knowledge that you have afforded your friends with the peace of mind of knowing their affairs are in the good hands of someone who cares.

Good Luck!

Zeke

[Catherine]

Who else has POA? - avoid family fights if at all possible.

Attorney, will, living will.

Liability insurance!

<snip>

Zeke

Thanks taxbilly and Zeke both for ideas and kind words. I know this couple has relatives in a nearby town but I don't have names or addresses.

I'll need to mention the HIPAA release, too. Or the person with the durable POA for health care possibly won't be able to get info from doctor.

But liability insurance for whom?

[zeke]

Catherine - I just meant that you might want to check your E&O ins. for coverage.

z

[Catherine]

Catherine - I just meant that you might want to check your E&O ins. for coverage.

z

Thank you. I thought that was what you meant but it could also have applied to someone with POA who is not family (bank trust officer, say).

Catherine

[Bart]

Hi folks --

Going to see a couple on Friday; he's mid-90's and she's a couple of years less.

Talked to them both on the phone yesterday and he's failing. He's had some falls and his hearing is even worse. Still sharp (once you can get through the hearing problem), but decidedly weaker. He's worried about his estimated tax payments; a tree fell on their house and damaged the area where he keeps his records. They've asked me to come over, and I'm bringing a new POA so I can find out what they've sent in already.

Can anyone advise me on anything else I should bring up with them? I have some ideas but so many folks here have so much more experience. I'm really sad to hear the changes (inevitable but still); I really like this couple.

TIA,

Catherine

Is anyone else a signor on their bank or investment accounts?