Your parents may be doing fine on their own now. But sooner or later they are going to need some help… not only with health care but also financial care. As your parents get older, simple tasks get hard or confusing. Things like balancing a checkbook, paying bills can become overwhelming to them. And whether you live near or far, this puts great stress on the family. Often, in their confusion, the parent take help from family members as trying to get take advantage of them. For this reason it makes sense to involve a trusted third party, someone with no personal financial tie with them. Don’t let the final years of their lives be miserable ones for you or them. Here is how we can help:
- We can meet with the elderly parent(s) or loved one(s) and assist them with their financial functions. Yes, we can even go to them! We can:
- Review their bills
- Help them keep simple records
- Make sure that money received is promptly receipted and deposited
- Handle day-to-day financial transactions such as home repairs, emergency medical expenses
- Help arrange for proper level of care, transportation and caregiver assessment
- Organizing and reviewing personal, financial and legal documents
- Prepare an inventory of personal assets and investments
- Plan and review budgets and cash flow projections to understand how long finances may last
- Monitor investment portfolios and other assets with their investment advisor
- Assist to see that final expenses are identified, planned for and available when needed
- Prepare, plan and file income, trust, gift and estate tax returns