A Power of Attorney (POA) is a legal document that allows an individual (the principal) to appoint another person (the agent or attorney-in-fact) to make decisions on their behalf. This can include managing financial affairs, making healthcare decisions, and other important matters.

As parents age, they may face health issues or cognitive decline that make it difficult for them to manage their affairs. Having a Power of Attorney in place allows adult children or other trusted individuals to step in and make decisions on their behalf when they are no longer able to do so.

Adult children can start by having a conversation with their parents about the importance of a Power of Attorney. They can help them understand the different types of POAs available, assist them in choosing a trusted agent, and work with an attorney to draft the necessary documents.

There are several types of Power of Attorney, including:

• General Power of Attorney: grants broad powers to the agent to manage all financial and legal matters
• Durable Power of Attorney: remains in effect even if the principal becomes incapacitated
• Healthcare Power of Attorney: authorizes the agent to make medical decisions on behalf of the principal

It’s important to choose the right type of POA based on the specific needs and circumstances of the aging parent.

If an aging parent does not have a Power of Attorney in place and is no longer able to make decisions, adult children may need to pursue legal guardianship or conservatorship through the court system. This can be a more complex and costly process, so it’s best to encourage parents to create a POA while they are still able to do so.