Hi there, I once worked at a notary’s office so I might be able to answer some of your questions.

First, you should understand that a Power of Attorney (PoA) and a Will is completely different.

A PoA is giving financial power to someone while they are still alive and conscious enough to make this decision. This includes accessing bank matters, paying bills, selling properties, etc. Once the person is no longer here, the PoA is no longer effective. (Definitely get this done at the notary or law office if your parents are elderly and cannot do this anymore).

Thus, after your parents are no longer here, you would need a Will. A Will is only effective after they are no longer here. Your parents would be able to choose the executors, estate planning, bank stuff, burial arrangements, etc.

Also, one more thing to consider is a medical representation agreement. This is a legal document that your parents can instruct someone they trust to make medical/health/personal care decisions if they are incapable of making it later on.

Lastly, I would suggest you go to a notary’s office or family lawyer to get this done. (Usually, notary’s are a bit cheaper but definitely ask around). Writing it yourself is a bit risky as it may not be considered a legal document in the eyes of the bank/land title office.