Managing your parents’ finances can be incredibly stressful, especially if it comes on suddenly. While organizing accounts and documents may not be your ideal way of spending your time, it is important to make sure everything is in place.
Even if you are not yet in charge of your parents’ affairs, it is essential to familiarize yourself with their situation so you can help out if you need to. Try following these tips and you will be looking at a much easier transition during this time.
Identify All Financial Documents
Even with your parents’ help, it can be difficult to locate all essential documents when it comes to finances. However, before you start managing anything, you need to know what you are working with. Identify which documents and accounts are essential in the management process and work from there.
Get Yourself Organized
Before you start making changes or tweaking your parents’ finances, organize the documents and accounts in order to make the process easier. This job will become much simpler if you are organized and neat.
Locate and Contact Power of Attorney
Now is the time to contact any power of attorney or trustee that is associated with your parent’s financial institution. You will need these people if you are going to make any changes or talk with your parents about managing their finances.
Write Everything Down
Remember to document all that you do. Finances can be a sensitive subject, and you want to protect yourself and your family from any legal trouble by writing down any changes you make or adjustments you consider.
Consider Professional Help
If the process is challenging or seems to be too much to handle, seek professional help immediately. There is no shame in getting someone to help you, and your life becomes easier if you have an expert who can see through your documents.
Comfort Keepers of Santa Clarita is the largest provider of home care services in the Santa Clarita Valley, with over a decade of experience with senior home care. It is our mission to support families in need by offering services that range from part-time to long-term.
Your aging loved one deserves to stay in the comfort of their own home, and with a Caregiver from Comfort Keepers Santa Clarita, you can rest assured knowing that they are in safe hands. Each trained caregiver is a professional trained to make sure your loved one is safe & happy. One of our Care Managers would love to answer any questions you may have, so give us a call to learn more about our wide range of services for both you and your senior loved one.
Comfort Keepers of Santa Clarita
23900 Lyons Ave
Santa Clarita, CA 91321
(661) 523-0322
www.homecaresantaclarita.com
