What forms do I need to act for my parents?
I am being appointed guardian and conservator for my mom who has dementia and a host of other problems and is now in a nursing home. My dad, 88 and also with dementia, is still living and refusing to cooperate with decisions that have been made. I will need to access joint accounts to pay for Mom's care, and gather information to apply for Medicaid when her portion of the resources are exhausted. What legal forms will the financial institutions require? They seem to want a power of attorney, but that won't be possible at this point. Isn't a conservatorship more far reaching?
Expert Answer
You are correct. Use of Durable Powers of Attorney are becoming more common. A Durable Power of Attorney is a document by which a person, while competent, appoints someone else to be able to act on their behalf. However, the guardianship and conservatorship appointments that you have are even better in your circumstance. These are court issued orders that give you the power to act in regard to your mother's financial and health matters. If you encounter a financial institution employee who is not familiar with these, merely ask to speak to a supervisor.