SWAAD - FCSP Legal and Financial Issues

Set font size: S M L

Legal and Financial Issues

...when caring for family members with disabilities.

As long as your family member is mentally capable of making choices about legal and financial issues, it’s important to respect those choices, even if you don’t necessarily agree with them.

It’s wise to plan for changes in her or his physical or mental condition, so you’ll be ready to deal with these changes if and when they occur.

An attorney, especially one who specializes in elder law, can give specific advice about your relative’s situation. Even though family members often have difficulty discussing these issues, taking steps in advance will make it much easier later.

Tools for managing legal and financial affairs:

Power of attorney gives you the legal authority to conduct financial transactions on behalf of your relative. It does not remain in effect when your relative becomes mentally incapacitated.
Durable power of attorney gives you the authority to handle finances and legal matters if your relative becomes incapacitated.
Health care power of attorney authorizes you to make health care decisions for your family member if she or he becomes incapacitated. Health care power of attorneys and living wills are referred to as “advance directives.”
Conservatorship is created by court action and gives you the right to manage your relative’s financial affairs after becoming incapacitated.
Guardianship is also a court-ordered action. It gives you the right to make all decisions (including medical and financial decisions) for your family member after becoming incapacitated. A conservatorship or guardianship requires an evaluation of the person to determine competence to manage her or his own affairs.
A living will directs the doctor to withhold life-sustaining treatment if the patient is terminally ill and unable to direct medical treatment.
A will gives instructions about how your relative wants his or her property to be passed on to others after death.

Public programs that provide financial assistance to elderly and disabled people:

Social Security is a program that provides a monthly income to retired workers who are 62 and older.
Medicare is national health insurance for people who are 65 and older and for some younger disabled people. There is an annual deductible as well as copayments. People with very limited incomes and resources may qualify for assistance in paying costs related to Medicare.
Medicaid is national health insurance for low-income people. People who are covered by Medicare may also be eligible for Medicaid. Medicaid covers long-term care for a longer time than Medicare does, such as nursing home or assisted living care. More information regarding Medicare and Medicaid.
Food Stamps are provided free to low-income people and can be used to buy food, just like cash.
Supplemental Security Income (SSI) pays monthly benefits to low-income people. Those who qualify may receive both Social Security and SSI payments.

Please call the Senior Information & Assistance office closest to you for more information.