Many financial and legal questions arise when determining how best to protect our parents. It is important that your parents have their Powers of Attorney and estate plan in place before they experience diminished capacity.
Once your parents' estate plan is in place, you want to protect their financial and physical well being. On the financial side, there are many people who take advantage of the elderly. If you enjoy your parents' trust and they confide in you about their financial affairs, keep an eye on their financial statements to ensure they are not the victim of a fraud. For physical well being, you have to determine whether your parents are safe in the home. One good test question is whether your parent can get out of the house in the event of an emergency.