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Common documents include a will, durable power of attorney for finances, and a living trust. A will specifies how your estate ? your property, money, and other assets ? will be distributed and managed when you die.

What are filial responsibility laws? Filial responsibility laws were enacted to guarantee that the elderly are cared for after they are unable to care for themselves. When old people are unable to care for themselves, their children must take care of them. Filial responsibility laws are only found in 30 states.

In the U.S., requiring that children care for their elderly parents is a state-by-state issue. Some states mandate that financially able children support impoverished parents or just specific healthcare needs. Other states don't require an obligation from the children of older adults.

The agent must be a competent person 18 years of age or older, though they do not need to be related to the principal. Download and print power of attorney documents from a reputable source, preferably a State of Florida or local municipality website. Fill in the form. Identify two adults to act as witnesses.

The most common types of advance directives are the living will and the durable power of attorney for health care (sometimes known as the medical power of attorney). There are many advance directive formats.

Having your parents' financial information is crucial to getting timely, efficient, and affordable care. Seniors applying for certain benefits must demonstrate their financial needs and provide comprehensive documentation of their past and present finances. One example is Medicaid.