Many California children have to help their parents manage their finances as they get older. This can be a complex task, and there are many financial and legal factors to consider. It can be beneficial to consider certain types of estate planning documents, such as a power of attorney, to help with this process and reduce the chance of complications.
California estate planning attorneys recommend the inclusion of a durable power of attorney in a typical estate plan. This legal instrument authorizes an appointed agent to act for the individual in his or her financial and personal affairs should the individual become incapacitated to perform such tasks. Probably the most important aspect regarding the power of attorney is deciding who to appoint as one's attorney-in-fact.