A Power of Attorney is a legal document that allows an individual (the “principal”) to appoint someone else (the “agent” or “attorney-in-fact”) to make decisions on their behalf. This can include financial decisions, healthcare decisions, or both.

As individuals age, they may face challenges in managing their finances or making healthcare decisions. A Power of Attorney allows aging parents to designate a trusted individual to handle these matters on their behalf if they become unable to do so themselves.

Adult children can encourage their aging parents to create a Power of Attorney while they are still capable of making decisions. They can also offer support in understanding the document and selecting an appropriate agent to act on their behalf.

There are several types of Power of Attorney, including general, limited, durable, and healthcare. Each type grants different powers to the agent and can be tailored to meet the specific needs of the principal.

A Power of Attorney can provide peace of mind for aging parents knowing that their affairs will be handled according to their wishes. It can also help prevent family disputes and ensure a smooth transition of decision-making authority to adult children when needed.