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Managing a parent's finances is a reality many children will face. In fact, about 22 million people age 60 or older have selected someone to make financial decisions on their behalf. Because the shift can happen suddenly, due to illness, an emergency, or a decrease in cognitive abilities – it is best to be as prepared and organized as possible before an emergency occurs. Knowing what to do when the time arises will mitigate stress and help ensure investments are protected.