A power of attorney doesn't hand someone permission to help — it hands them the legal authority to act as your parent, financially, with almost no one watching. Families report a stranger's theft two thirds of the time. When it's someone they know — a son, a daughter, a brother — they report it only one time in eight.
$27 billion was reported stolen from elderly Americans in a single year, across 155,415 cases. That number is almost certainly low, because most of what happens inside a family is never reported at all.
Three free things catch it in a month instead of eleven: dual, read-only account access for a second family member; real-time transaction alerts set by your parent; and the right to demand a full accounting at any time, for any reason.
Full breakdown, and what one family learned eleven months too late: https://www.youtube.com/watch?v=HOsXXcfwjxg&utm_source=tumblr&utm_medium=social&utm_campaign=n14
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