Eldercare: Expert Guides and Resources

Copyright © 2014 AARP. All rights reserved. If you need to step in to help take care of an older person’s finances while planning their long-term care, an alternative to holding a joint bank account is receiving financial power of attorney. Two types of power attorney are available: conventional and durable. Conventional power of attorney Conventional power of attorney is granted by a document, signed by one person, giving another person permission to take care of different kinds of financial affairs, like signing checks, agreeing to pay a contractor for home repairs, handling bank accounts, and taking care of other tasks.

Copyright © 2014 AARP. All rights reserved. Both the federal and state governments regulate long-term care services and facilities. The standards are set by agencies that pay for services, monitor quality of care, and establish rules for licensing staff. It is important to understand what standards are monitored and how a particular facility or agency measures up to the requirements.

Copyright © 2014 AARP. All rights reserved. When you plan a family meeting to discuss your long-term care options, present it as a preliminary discussion, not a done deal (unless a crisis has occurred). You may say to your adult children, for example, “This winter has made it clear to me that I really can't keep up the house and grounds the way I used to.