If Money Is At Stake, Watch Your Back…

6 Mar 2022 · 0 min

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In this brief advisory video, Jerry Taylor warns that when a parent develops dementia, family members must be vigilant to protect inheritance assets. He recommends granting power of attorney to all siblings before the parent's condition deteriorates, ensuring that the process is transparent and inclusive. Key actions include involving every sibling, holding open meetings, maintaining clear communication, and treating the parents with utmost respect and dignity throughout the process.

If your inheritance money is at stake, your head needs to be on a swivel. And by that I mean you need to watch your back, even from the people that you trust. If you've got a mom or dad with dementia, this is a good example of the type of thing that can happen. The answer here would have been to give power of attorney to all the kids before things got bad. My advice: get all your siblings involved in the process, make sure everything is open and upfront, have meetings, talk through everything. And above all, respect your mom and dad and treat them like the priceless gems they are.