As an estate planning and elder law attorney, I counsel my clients to plan ahead for the unexpected by putting in place valuable estate planning documents that address who will handle their finances if they are unable to do so (whether due to stroke or some other physical/mental disability). In documenting these decisions, I urge clients to not only make these selections due to the close proximity of one child, but rather to make such decisions based upon the financial acuity and soundness of the child. Though no one would want to admit or even consider the possibility of a trusted child tampering with their savings, such occurrences happen too often. With that in mind, these decisions should be well-contemplated and not taken lightly.
To learn more about what to consider in choosing who to trust with your financial future, go here.