Excerpt
How to Manage Your Aging Parents' Finances
Taking over your aging parents’ finances is not easy. But it’s something that can be handled in an organized, compassionate way. Here’s a roadmap that shows how to embrace it and do the right things for everyone involved.
Start the conversation early. Right now, your parents might not need any help. They might be handling everything just fine. But there will come a day when they can’t – and they’ll need your help. The National Institute on Aging recommends that parents give advance written consent to designated family members so they can discuss personal matters with doctors, financial representatives and Medicare officials. If you don’t have this, you’ll be faced with some road blocks. If you open the dialogue now, you’ll circumvent obstacles, as well as get a better feel for what their future needs might be.............
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