Some fundamental legal documents need to be drafted as you look toward retirement and your golden years, according to Gambit in "The legal needs of aging parents."
Among the key challenges for people planning on retirement is the need to save money, learn about Social Security and Medicare and plan on where they want to live.
However, planning for retirement is not quite done until an estate planning attorney is consulted.
Among other things, parents need to think about the legal ability of their children to take over for them if necessary. For example, the children need to be able to handle the parents' finances and make medical decisions for the parents if they are unable to do so for themselves. Preparing for that goes beyond just making sure a child has the knowledge to do those things - the child also needs the legal authority.
That is where a visit to an estate planning attorney comes into play.
Reference: Gambit (Oct. 30, 2017) "The legal needs of aging parents."