Your estate will go to Probate Court for administration.
My parent is exhibiting signs of dementia. What’s the first thing I should do to get his affairs in order?
Seek a doctor’s opinion for incapacity and then contact your Estate Planning attorney.
Make sure the title to your assets is in your name and seek legal counsel for ways to protect those assets from co-mingling.
Can I restrict the distributions to my children to cope with their lifestyles, i.e. drug and creditor issues?
Absolutely. You’ll need to set up trusts for their benefit and give the trustee sufficient power to restrict distributions in view of their lifestyle issues.
Create an Advance Health Care Directive that provides your agent with sufficient power to eliminate life support mechanisms.