10 questions adult children should be asking their parents this holiday season
Do you have a power of attorney and a health care proxy?
You execute a power of attorney to designate someone to make financial decisions for you in case you become unable to make such decisions yourself. Similarly, a health care proxy is used to appoint someone to make health care decisions for you. Without these essential documents, you could be the subject of a guardianship proceeding, which is generally a lengthy and costly process.