As your parents age, they may require more assistance in different aspects of their life, including their finances. This doesn't always mean financially taking care of them (although that's also possible), but it could mean becoming responsible for managing their money.

Taking over your parents' finances isn't just about managing their income and monthly expenses. That's undoubtedly an important part, but it's just one piece of the financial puzzle. First, you'll want to gather information about all their financial accounts. Accounts to look for include checking, savings, retirement, brokerage, and health savings accounts.

For each account, be sure to know the account number, how it's accessed, and check that the information on file is up to date.

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Source Fool.com