Legal Question in Wills and Trusts in Ohio
Protecting Assets
It's possible that my mother is develpong alzheimer's. We would like to know what legal steps our parents should take to protect their assets if she should require extended care?
2 Answers from Attorneys
Re: Protecting Assets
If your parents have not done any estate planning and there is an estate to consider, I suggest contacting an estate planning attorney. This can become complicated.
Re: Protecting Assets
You should have a health care power of attorney, living will, and financial power of attorney prepared while your mother is still lucid and competent. These are all inexpensive to prepare. She should also do some estate planning. For a person with little assets this would involve a simple will. For someone with more assets this could involve setting up a trust and determining the most efficient way to accomplish ones goals. If you are in the Columbus area feel free to contact my office.