As our parent’s age, it’s important to start discussing how we can help them manage their finances and care for themselves. Learning how to get power of attorney for an elderly parent with dementia may be necessary to ensure that you are able to make decisions on their behalf.
What is Power of Attorney?
Power of Attorney (POA) is a legal process that gives one person the ability to handle another’s financial affairs or other legal matters. When granting this power, called the “principal”, authorizes the other person, called the “agent” or “attorney-in-fact”, to act on their behalf. The agent is usually allowed to make decisions on the principal’s behalf including investments, bank accounts transactions, and even property affairs.
It is important to remember that Power of Attorney is an important legal document and should not be taken lightly. It must be signed in front of a notary public and signed by two witnesses who are qualified.
Furthermore, the POA must state specifically what powers are being granted to the agent. A particular wording must be used in order for it to remain valid and enforceable in court. It is also recommended that additional provisions should be included such as specifying when it will begin and end; whether it can be revoked; what compensation may be paid; and how disputes will be resolved if any arise.
In addition, it is important for both parties involved to seek independent legal advice prior to signing any such document as well as periodically reviewing it afterward. This helps ensure both parties understand its terms and conditions as well as any potential consequences arising from its use.
If an agent fails to exercise appropriate care with respect to using the POA authority then they may become legally responsible for any losses incurred during its use due to negligence or fraud.
Types of Power of Attorney
Enduring Power of Attorney (EPA)
An enduring power gives someone the authority to make financial and legal decisions on your behalf when you’re no longer able to do so yourself. It’s important to note that an enduring power must be signed while the person granting it still has mental capacity, which means they can understand what they’re signing and the consequences of doing so. If you’re considering an EPA, make sure you talk to a lawyer first.
General Power of Attorney (GPA)
A GPA is similar to an EPA but it only lasts until the person granting it loses its mental capacity or revokes it, whichever comes first. It also applies only to legal and financial matters—it doesn’t cover medical decisions or anything else outside of these two domains.
Medical Power of Attorney (MPA)
As the name suggests, an MPA is used for medical decisions only. This type of POA allows someone else to make healthcare decisions on their behalf if the elderly lose mental capacity and are unable to make their own decisions.
Child Care Power of Attorney
An often overlooked type of POA is child care POA. This type grants someone else the authority to take care of the children should something happen to the elderly.
Not only does this POA cover who will have custody in such a situation, but also how any money left behind will be used for their benefit.
Business Power of Attorney
Lastly, business POA grants another person decision-making authority over a business if something happens to its owner(s). Similar to GPAs, business POAs expire when the owner regains mental capacity or revokes them; however, they can be renewed if necessary as well.
Who Can Have Power of Attorney?
Having power of attorney for an elderly parent with dementia can be a difficult process, but it is important to ensure that their best interests are taken into consideration when making decisions.
As we have mentioned, Power of attorney (POA) is a legal paper that gives someone the authority to make decisions on behalf of another person who may not have the capacity to do so on their own. It can be granted to friends, family members, or professional advisors such as lawyers or financial advisors.
When considering who should have power of attorney for an elderly parent with dementia, it is important to consider what needs the elderly parent has and who will best serve those needs. Generally speaking, family members or trusted friends are the most likely candidates for POA.
However, if there is any disagreement between family members about who should have a POA or concerns about the abuse or exploitation of the elderly parent’s assets, then professional legal advice may be needed before granting the POA.
In certain cases where a court decides that someone cannot act as a “natural” representative for a person living with dementia due to mental incapacity, then an independent third party such as a lawyer may be appointed by the court as guardian or conservator.
This type of POA arrangement allows for more direct control over decision-making in regard to medical care and asset management for an elderly parent with dementia by an objective party not related to them.
No matter who has been chosen as a power of attorney for an elderly parent with dementia, it is essential that they fulfill their duties responsibly and fairly in accordance with the wishes and best interests of the individual they are representing.
This includes respecting their autonomy while also providing necessary support and protection if required. Furthermore, communication between all parties involved must remain open in order to ensure everyone’s understanding and agreement on matters concerning POA arrangements.
Why an aging adult may need a power of attorney
Health Care Decisions
One of the most common reasons for assigning a POA is to ensure that healthcare decisions are taken care of if the aging adult is unable to do so. This could include making decisions regarding medical treatments, hospital stays, and other related matters. It’s important to note that these powers don’t take effect until the person granting them is deemed incapacitated by a physician.
Financial Decisions
Another common reason someone might need a POA is to handle their financial decisions when they are no longer able to do so. This can include things like paying bills, managing investments, filing taxes, and more. It’s important that you choose someone you trust with your finances as they will be legally responsible for handling them on your behalf.
Legal Representation
Finally, another reason why someone might need a POA is for legal representation purposes. This could include signing documents related to property and financial affairs or appearing in court on behalf of the aging adult if they are unable to do so themselves due to their age or health condition.
It’s important that you choose someone who has experience dealing with legal matters as they will be legally responsible for representing the interests of the aging adult in court.
How Do You Get Power of Attorney for an Elderly with Dementia?
Step 1: Have a Conversation with Your Parent
Before anything else, you need to have a conversation with your parent about what you would like to do and why. Make sure they understand that you’re doing this out of love and concern, and not because you want control over their finances or decisions.
It’s important that your parent fully understands the implications to grant power of attorney before taking any legal steps.
Step 2: Talk to a Health and Welfare Attorney
The next step in getting power of attorney for an elderly relative with dementia is to talk to a lawyer. An experienced lawyer will be able to provide advice on the process and ensure that all paperwork is filed correctly. In some cases, an Australian court may need to approve the POA arrangement before it can become official.
Once you have applied for POA, you will need to provide proof that your elderly has been diagnosed with dementia by healthcare professionals. This proof should include any medical records or test results related to dementia diagnosis, as well as any additional documents that support the diagnosis.
It’s important to note that the specific requirements for obtaining powers of attorney vary from state to state, so it’s best to consult a lawyer who specializes in elder law in your area. Additionally, if there are other family members involved in caring for your elderly, they may need to sign off on the application as well before it can be approved by a court.
Step 2: Complete the Application Forms
Once the initial process has been fulfilled, it’s time to complete the application forms required by Australian law. These forms will outline what kinds of decisions you are allowed to make on behalf of your parent and how long this arrangement will last. It’s important that both parties agree on these terms in order for the application to be valid.
Step 3: Get Everything Notarized
In addition to completing the application forms, Australian law also requires all relevant documents (including wills, trust deeds, etc.) to be notarized in order for powers of attorney grants to be legally binding.
This means having the documents signed off by a qualified lawyer or notary public who can verify that all parties involved have given consent freely and without coercion. Without this step, any agreements made between yourself and your parent could be overturned in court later down the line if ever challenged.
Conclusion
Gaining powers of attorney for an elderly who lose mental capacity can seem like a challenge at first glance but it doesn’t have to be! With careful planning and consideration, as well as some expert advice from a lawyer or notary public if needed, you should have no trouble getting everything sorted out properly.
Taking care of our elderly is one way we show them our love; setting up power of attorney just ensures they stay taken care of very well.