You should start searching for your parent’s financial records and crucial documentation as soon as you have decided to move your loved one into an assisted living facility in Grapevine, TX. In cases where they are unable to obtain some of the necessary paperwork, the move is sometimes delayed.
Documents that the assisted living home requires might have been misplaced or lost over the years, or may have unintentionally incurred damage.
Some elderly parents may also forget where they put the paperwork if they suffer from dementia or other memory problems. In any case, you should factor in enough time to locate the paperwork prior to making the shift.
Here is a complete list of documents that an assisted living facility may require.
Common Paperwork Requirements
Across most assisted living communities and senior living options, the following paperwork is generally required:
- Birth certificate
- Social Security number and card
- Driving permit
- Insurance document
- Card for Medicaid or Medicare
The institution for assisted living may additionally require:
- Advance directives
- A will
- The legal power of attorney document
- A health care proxy
The following may also be required for managing financial matters for your loved one:
- Marriage certificates
- Military records
- Mortgage documents
- Credit card or loan statements
It would be wise to print a copy of all these documents so that you and the assisted living community can have access to all the important information.
Other Financial Records that Could Be Useful
When parents move into an assisted living facility, their children will often take over all facets of managing finances for their parents.
Therefore, in addition to finding and holding onto records for the aforementioned documents for assisted living purposes, the financial records will also give you the opportunity to learn more about your parent’s financial position.
This could include information on assets, insurance plans, and tax returns going back at least seven years. Bank account statements, trust agreements, records of real estate holdings, stock and bond statements, and other relevant documents are examples of asset information.
Important Contacts
Make a list of critical contacts that you may need to contact occasionally, in addition to the aforementioned documents that you will need to collect.
Insurance agents, bank representatives from different financial institutions, attorneys, financial advisers, tax advisors, and even religious workers may fall under this category.
These could be the people your parents regularly get in touch with for support on different facets of managing their finances.
It can be challenging to assist your parent in moving into an assisted living facility.
Organizing all the necessary paperwork and finding out more about your parent’s financial situation can be difficult and stressful. The sooner you start gathering documentation and organizing your parent’s affairs, the easier it will be for both of you to make the transition.
Part of the preparation process of moving your loved one to an assisted living community is to check out the premises and assess if it is the right fit for you both. This is why our vibrant resort-style community offers you a free-of-charge trial run through the Be Our Guest program. Don’t wait, embark on the preparation journey now!
