Managing your loved ones money and affairs

CFPBIt may be overwhelming to manage the affairs and money for a loved one who isn’t able to do that for themselves anymore.

The Consumer Financial Protection Bureau (CFPB) has released booklets to help with the money side of things and … especially important … walking you, the caregiver, through your duties, spotting scams, and where to go for help.

Assessing the Costs of Caring for an Aging Relative – NYTimes.com: “Faced with the high cost of in-home care, many Americans end up providing care themselves for an aging parent or relative with a chronic condition. But by doing so, you may be putting your own finances, and even your health, at risk.”

 

Please reference other posts that discuss aging in place, finding care in home or out of the home, managing finances, and much more. Also note, that many posts have additional resource links in the comments section below the post.

I hope all these may help provide you insight into your unique situation, either as someone needing the care, or as the caregiver. Or … please forward this to someone you know who is a caregiver or in need of care.

About Larry Frank, Sr.

Larry R Frank Sr., MBA, CFP®, is an experienced financial advisor and a published author on Retirement Planning Research. Have a financial question? Click Here to Ask Larry

2 Responses to Managing your loved ones money and affairs

  1. Larry Frank, Sr. May 22, 2016 at 9:58 am #

    The CFPB is putting Guides for Managing Someone Else’s money in one place on this site

    http://www.consumerfinance.gov/managing-someone-elses-money/

  2. Larry Frank, Sr. July 31, 2016 at 9:55 am #

    And heaven forbid, you suspect elder financial (or otherwise) abuse! Some resources may be found here, especially about where to report your suspicions towards the end of the article.

    http://www.consumerfinance.gov/about-us/blog/world-elder-abuse-awareness-day-play-part-prevention/

    Resources are also available here

    https://ncea.acl.gov/

Leave a Reply

Are you human? Click the Apple...