Financial Decisions or Financial Disaster?

"Mom and Dad are making a lot of big financial decisions and I'm nervous that some of the financial consultants they are dealing with may not have their best interests in mind. How can I protect them?"

As the adult child I strongly suggest that you go with you parents to meet these people, especially if you are their Power of Attorney. You need to understand their estate and have a very clear understanding of what your parents' wishes are. It could be that the consultants are all perfectly wonderful and skilled. What a meeting will do for you as an adult child is give you some peace of mind about the professional support that is available when it's needed. It can be dicey and you want to ensure that their estate is safe and can ensure their long term care.

Published on August 13, 2015.