Delaying preparation to deal with the illness, disability, incapacitation or death of a parent is understandable. It is something most of us would rather not consider. However, you can save yourself a tremendous amount of time, energy and perhaps money by being sure your parent has the following:

An updated and valid will which ensures that your parent's belongings, money or property will be allocated according to his/her wishes. A current will reduces the likelihood of family conflict and an extended and complicated probate process. If a valid will does not exist, the court may determine how property and possessions will be dispersed.   A durable power of attorney which allows a designated person to make legally binding decisions for your parent (such as signing checks or making housing choices) should he/she become incapacitated. Having a Durable Power of Attorney in place means the family can avoid the harrowing process of going to court to have a guardian named to oversee your parent's care and finances.

  A living will specifies your parent's wishes, in writing, as to the medical procedures to be performed if they become terminally ill. With a Living Will, your parent decides, in advance, specific medical procedures to be administered and the circumstances for disconnecting any life-support treatment. It can also specify who among family, friends or doctors will have the power to decide when to make a decision to disconnect life support systems.

  A durable power of attorney for healthcare is a legal document which allows your parent to designate a person to make certain decisions for them regarding their medical care, should they become unable to do so. The typical distinction between a Living Will and a Durable Power of Attorney for Healthcare is that a Living Will usually deals only with medical decisions related to "end of life" situations. A Durable Power of Attorney for Healthcare can be drafted to enable your parent to appoint a "healthcare agent" for a number of different medical situations which may arise not necessarily related to "end of life" situations.

Recommended Reading: How To Care For Aging Parents by Virginia Morris, Workman Publishing Company, New York. A very comprehensive resource on the medical, emotional, legal and financial issues involved in caring for an elderly parent.