Taking care of aging parents is a complex responsibility. If your parents ever require assistance or care, you'll be in a better position if you ask them to help you prepare ahead of time.

Review healthcare coverage. Find out if they're covered by Medicare, and if so, which Medicare plan. Do they have supplemental healthcare coverage? Do they have long-term care insurance? What services are not covered under their health insurance?

Review finances. Do they have any emergency funds? How much do they receive from Social Security and other income sources? How would they pay for home care?

Decide who should be responsible for care. Who would they like to handle their financial affairs if they were disabled? Who would they trust to make medical decisions for them?

Gather emergency information. You'll want to collect doctor contact information, health insurance provider and account numbers, Medicare account numbers, medical conditions, allergies, Social Security numbers, dates of birth, and copies of any legal documents like healthcare proxies and powers of attorney. Keep this information together in a binder for easy access.

Assess housing. Will their home be safe for them as they grow older? Are there home modifications they can make to reduce their chance of injury? Would they consider moving to a more suitable location or one that was closer to you or their other children?

POWERS OF ATTORNEY
With the help of a lawyer, each parent can set up legal documents known as powers of attorney to authorize a trusted friend or family member to act on his or her behalf to make financial or medical decisions.

You and your parents' attorney should keep a copy of these documents, as should their doctors, if the documents authorize a medical decision-maker. Be sure that any legal documents meet state requirements.

Nondurable power of attorney, also known as simply power of attorney (POA), takes effect immediately and ends when your parent revokes it, becomes mentally or physically unable to make decisions, or dies. It covers financial and legal decisions, not healthcare decisions.

Durable power of attorney (DPOA) may be used immediately and stays in effect if your parent becomes mentally or physically disabled. It ends when your parent revokes it or dies. The DPOA for finances allows the person named to make financial decisions, and some states allow a DPOA for health, which allows the person named to make medical decisions. Some states use a document called a healthcare proxy instead of the DPOA for health to authorize a medical decision-maker.

Springing power of attorney will only go into effect after a certain event — usually your parent's illness or disability. Unlike the other powers of attorney, it cannot be revoked, except by a court. Otherwise, the springing POA ends at your parent's death. The agreement may specify that your parent's doctor must determine whether your parent is fit to handle legal and financial matters before it goes into effect.

OUTSIDE LINKS

www.eldercare.gov
The US Administration on Aging provides a toll-free Eldercare Locator at 800-677-1116, which can point you to eldercare services where your parents live. Some information is available online.

www.aoa.gov
The US Administration on Aging website features information and resources for elders and their families, including information about rights, housing, disaster assistance, nutrition, and more.

www.medicare.gov
The Medicare website explains all of the Medicare plans, answering questions about eligibility, choices, benefits, premiums, and more. It also explains how to file a reimbursement claim and provides Medicare appeals forms.

www.ssa.gov
The Social Security Administration website provides news and updates about Social Security, as well as information about applying for benefits and direct deposit of benefits.