Your parents may have achieved senior citizen status, and the subject of powers of attorney has come up. These agreements can take many forms; understanding how they work in certain situations will be helpful when you begin to talk with your parents about their future care.
Have you ever found yourself saying, "I'm not old enough to even think about making a will or an estate plan?" If so, you're not alone. Many people believe that an estate plan is only for people reaching retirement age or those who have a substantial amount of assets that need to be accounted for upon their death. This isn't true, though.