Suppose you’ve noticed some hesitation from your aging parents about organizing their affairs; you may contemplate handling estate planning on their behalf. As your parents age, helping ensure their financial and legal affairs are in order becomes increasingly important. Estate planning can help your aging parents write their wishes in legally binding documents before they become incapacitated.
What can you do if your parents are no longer able to manage these matters independently? Can you step in and handle estate planning on their behalf in Ohio?
Assisting your parent with estate planning
While you cannot create an estate plan for your parent without their consent, you can encourage them to begin putting their affairs in order. It’s essential to discuss estate planning with your parent before any cognitive decline or medical emergencies occur. Having these conversations early on can prevent legal complications down the road.
Assessing your parent’s mental capacity
Before you can act on your parent’s behalf, they must have the legal capacity to make decisions. In the Buckeye State, a person must:
- Comprehend the nature and consequences of their decisions
- Know the extent of their assets
- Recognize the people who would naturally inherit their property
Suppose your parents are mentally competent; they can voluntarily sign estate planning documents. However, if they’re experiencing cognitive decline, you may need to step in and put their affairs in order. This legal process involves:
- Filing a petition in the county where your parent resides
- Providing medical evidence of incapacity
- Attending a court hearing where a judge determines if guardianship is necessary
Once appointed, you can manage their estate planning affairs under court supervision.
Whether you’re assisting parents with mental capacity or parents who have begun to experience cognitive decline, you should consider enlisting legal guidance. The appropriate legal support can help ensure you offer your parents the support they need in ways that are legally enforceable.