Designate a child who understands your finances. Ideally, the child should live nearby, since she may have to pick up your mail and attend to other local tasks, Irving says. Once you've assigned durable power of attorney, tell your children about your decision, Irving says. It's hard stuff to talk about, but if you can be open with your family from the beginning, you can minimize the chance of a breakdown later. And don't put it off.
Fruit flies like a banana.
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