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Take Action to Help Protect Your Aging Parents’ Finances
Aging Parents and Bad Money Decisions: Yes, You Need to Take the Initiative!
How to watch for warning signs that your aging parents need help
If you’ve been entrusted to assist an elderly relative with scheduling preventive exams and putting a health care plan in place, you may struggle with knowing when it’s time to take on a greater role in other aspects of their life. That’s why now is the perfect time to look for warning signs that your loved ones might be suffering from a decline in financial ability.
Despite years of accumulated knowledge and experience, it is likely that at some point your loved ones’ financial capability will be challenged as they age, making it more difficult to competently handle money-related matters on their own. And this decline can occur even if illnesses, such as Alzheimer’s or dementia, are not present.
Establishing a plan to manage your parents’ finances is an important task in their senior years, particularly if you intend to engage other family members in the process. A survey…
