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My parents are both in senior assisted living centers with health and dementia issues. I have the power of attorney for health and finances. I am aware that they have accounts (IRAs, annuities, mutual funds) with several investment firms, pensions, and social security. How do I find out what happens to this money after one or both of my parents pass? I know that some pensions will continue or partially continue to the surviving spouse, but how do I know? and what happens if my father has named my mother as a beneficiary to a policy and she predeceases her? What questions should I be asking? With the POA, am I able to change any of their previous beneficiary decisons?

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I just went through this with my husband (early stage dementia). Had to send copy of POA with a letter stating his declining health to change beneficiary to me to the banking institutions and and life insurance companies. He had to
sign the form though. Good luck - it took a while to get it all done...
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Probably the person who is best able to provide answers to your concerns is the lawyer who provided you as POA. Also, your parents should have a Will spelling out who is to receive benefits, etc. And definitely discuss with your parents and their lawyer any changes you think need to be made regarding their previous beneficiary decisions. As POA I'm extremely careful about exercising authority over my mom's estate.
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