As your parents get older, they may become less able to manage their own financial affairs. If you're lucky, your parents have already made arrangements for this contingency, but you can't assume that they have. In order to protect your parents' financial well-being if illness or disability strikes, you need to take steps now in case you need to intervene later. Managing your parents' money begins when you talk with them about it.
Finances can be a touchy subject.
You may be fortunate enough to have parents who are eager to have your help, in which case, broaching the topic will be easy. When you sit down to talk, be clear about what matters need to be addressed and resolved. Remember, though, that any decisions that need to be made are for your parents to make. Don't tell them what to do. Listen to them and offer advice, but don't expect them to follow it.