The average lifespan of an American male is about 79 years while an American woman has a lifespan of about 81 years. And that’s average. Many people will live until they’re 90 years of age or more. While some of the elderly will be in good health during those years; some will not. Regardless, there likely will come a time when their adult children, if they are alive, will confront the issue of taking care of their parents. That can be a difficult assignment, so it is a good idea for adult children and their parents to talk about such things as power of attorney and funeral wishes as early as possible. Rob Seltzer, a CPA and personal financial specialist, knows firsthand about the subject.

http://www.calcpa.org/public-resources/financial-literacy/financial-empowerment

Follow CalCPA on Twitter @Cal_CPA

Find CalCPA on Facebook calcpa.org/facebook