Success Tips: Talking To Impaired Aging Parents About Giving Up Financial Control When an aging parent shows signs of cognitive decline, it may be up to you, the adult child, to take protective action. You need legal permission, in the form of a Durable Power of Attorney, but you also need a strategy about how to approach your aging parent. Show your respect for how difficult it is to give up control. Choose the right time and place, free of outside stresses to begin the conversation. Expect resistance, but gently push on. Memory loss in an aging parent means vulnerability to bad financial decisions. You can help by starting the talk about transition of power.
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