As our parents age, managing their finances might become tougher for them. It’s not the cheeriest subject, but with careful planning, we can make it easier for everyone. Here’s how to get ready to assist your parents with their finances when needed:

  • Start the Money Talks Early: Getting ahead of these conversations makes everything smoother down the line.
  • Ease Into It: Gradually getting involved is less stressful for you and them.
  • Organize Documents: Ensure their financial and legal documents are up-to-date and safe.
  • Simplify Their Finances: Set up direct deposits and automate bill payments to help them keep independent.
  • Power of Attorney: This document lets you make decisions for them if they can’t.
  • Keep the Family in the Loop: Transparency with family members avoids misunderstandings.
  • Separate Finances: Mixing money can complicate things for both of you.
  • Watch for Red Flags: Unusual spending or piled-up mail can signal they need more help.
  • Know Your Resources: Organizations like the National Institute on Aging offer extra support.
  • Consider a Financial Planner: Our team of Financial Architects can tailor a plan for your family’s specific needs.

Interested in making a plan? Starting is easy with a complimentary consultation. Give our office a call at (435)773-9444 or click here to schedule your visit today.