10 Things You Should Know About Your Parents' Finances

  1. Do they have a durable power of attorney, and where is it?

  2. Where do they keep their financial records?

  3. What are their monthly expenses?

  4. How can I pay their bills if necessary?

  5. What kind of medical insurance do your parents have in addition to Medicare?

  6. What's their income and where does it come from?

  7. Have your parents done any estate planning?

  8. If they can no longer live on their own, what can they afford in terms of housing?

  9. What financial planning have they done?

  10. Do they have an advance health directive?

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