I am concerned what would be the best course of action so that he maximizes his benefits from GM, etc and minimizes the loss to his 401K, personal investments, IRA, Home, etc etc....
I started a claim for disability benefits from GM but not sure where to turn to know if I am doing the right thing.
Thanks in advance!
What is Father's cognitive state now? Can he comprehend and participate in discussions about his finances?
If you are POA and he is competent, why don't you both go to a financial planner and discuss his best options at this point? Supporting himself and paying for what might be substantial medical costs the rest of his life would be the first goal, I assume.
I think your job right now is to understand his deficits and understand what the options for rehab are. You want him in the best short term rehab place near you, hoprfully one that can do cognitive rehab as well as speec, ot and pt .having him in a place that also has assisted living and long term care available might also be a good idea,, depending upon what sort of recovery is in the cards.
Remember those funds are there for his care. You should certainly consult an eldercare attorney, especially if there is a spouse involved, because the spouse needs to be protected from impoverishment.
I don't think I am POA, how do I do that? He would gladly agree to that I'm sure.
I dont know if he has a trust lawyer. what if he doesn't?
I think he will be able to participate in discussions soon...maybe like 1-2 weeks.
Yes he is still in SICU, slated for private room tomorrow hopefully.
Is your mom still around, or does dad have a spouse? In other words, is it possible there is someone else who is poa?
His health care plan will pay for medical bills. With a hospital stay, he will quickly be at any 'out of pocket' maximums . After that, his health care plan may pay the full bill! Call his health care plan provider (number on the back of his health care card) and make sure you understand what is covered with respect to rehab services. As Babalou stated, get the BEST care possible. Your Dad is young and has the potential for many happy years, but he has one good shot at a significant recovery. While he is in the hospital, ask around for the BEST rehab ;place. (The staff in hospitals too often make arrangements for the easiest rehab! Do your homework) .
No action is needed for 401k, IRA, investments, etc. They are the least of your problems right now. And, GM may have an Employee advisory service available - many large firms do! They will help identify rehabs, etc as well as in home services he may need in the future.
Have faith, most of us look awful post surgery, it takes a while to shake it off!
It feels great to finally say...He is "out of the woods" so to speak!
I can now work with him directly for decisions regarding the next steps! phew what a huge relief and Blessing!
Hugs to him and to you.
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