I’m 72, worth over $2M and have no close relatives. Now ‘I worry for my future’ as mom had Alzheimer’s. What’s my move?

Who do I turn to? Should I have a financial power of attorney in place? I have a self-managed account with a large financial services corporation. Are there financial advisers that handle paying bills and filing income taxes, etc.? Or would a law firm do that? I am obviously not in need now but I do worry for the future and think I should have a plan just in case. Who should I turn to and what exactly should I look for? (Looking for a financial adviser too? This free tool can match you to a fiduciary financial adviser.)

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Answer:You’re way ahead of others in similar positions in that you’re working proactively on a plan, so you should feel good about that, says certified financial planner Bobbi Rebell, founder of Financial Wellness Strategies. And having a financial power of attorney — someone who can make decisions and manage financial matters on your behalf – in place is prudent here.

“It requires that you have a trusted person you are comfortable giving this sort of responsibility to. At a big firm, you can, and should, add a trusted contact [as your financial power of attorney], as well as beneficiaries in case of death or incapacitation. Should you become incapacitated or pass away, naming beneficiaries makes the process of unwinding your finances easier for your executor,” says certified financial planner and financial therapist Josh St. Laurent at Wealth In Yourself.

As for naming a power of attorney, it’s imperative you select someone trustworthy to act in this role. “The first step would be to engage the services of a law firm that specializes in estate planning. They can assist with setting up legal documents, including power of attorney,” says certified financial planner Ryan Haiss at Flynn Zito Capital Management.

Remember, too, that this person is someone you’ll be trusting to make decisions on your behalf if you were alive but unable to make decisions for yourself. “You can list multiple people, a first, second and maybe even third choice to ensure this role is filled by someone you choose in case a listed person is unable or reluctant to act,” says Julie Everett, certified financial planner at Financial Finesse.

For those who don’t have family members to manage their affairs in the event they become unable to, looking for a family office or trust company might help, says St. Laurent. At a trust company, “you can appoint a corporate trustee to handle things like paying bills for you,” says St. Laurent. Depending on what state you live in, the rules regarding what a power of attorney can and can’t access may be different. (Looking for a financial adviser too? This free tool can match you to a fiduciary financial adviser.)

That said, “these companies often require you to have a certain minimum net worth, but it’s still worth checking into,” says childfree wealth specialist Bri Conn. If you’re unable to afford this or don’t meet the requirements to be taken on as a client, you can also consider a trusted friend.

“For legal reasons, you’ll want to make sure your estate planning is properly updated. This includes your will, living will, financial and medical power of attorneys,” says Conn. Though they may sound similar, it’s important to note the differences between a will and a living will. A will outlines your wishes once you’ve passed away and a living will declares your wishes for medical treatments and decisions that might need to be made if you’re unable.

While all of this might feel overwhelming, it can be an easy fix using common estate planning documents. “There are DIY options out there, but the drafting of these documents is best handled by a reputable estate planning attorney,” says Everett. To search for qualified attorneys, consider asking friends or colleagues for referrals or use the Martindale-Hubbell Law Directory to find reputable estate planning attorneys in your area.

If you’d like a financial professional to manage your investments, they will likely not be able to act as your power of attorney as it presents a conflict of interest, says Haiss. “However, you may be able to select a corporate trustee to handle this for you and the financial planner can work with the corporate trustee to ensure the financial plan is tailored to your specific needs and preferences,” says Haiss.

Indeed, Everett says she used to fill this role. “It’s possible to name a corporate trustee within your estate planning documents and yes, they can manage your bills and investments as well as file your tax returns if you were unable. A corporate trustee is an entity, not an individual, that is responsible for managing and protecting your estate,” says Everett. If you don’t name a power of attorney, Rebell says you risk having someone appointed by the courts. “Then you won’t have any control over who that person is,” says Rebell.

Have an issue with your financial planner or looking for a new one? Email [email protected].

Questions edited for brevity and clarity.