Aging parents with money troubles can be a worry for some. Thankfully, Teri Cettina wrote this very detailed and helpful peice to help you help your parents in their later years. Its long, but well worth the read. Nothing is more important than family.
So, the event you’ve worried about much of your adult life has finally happened: You need to take over Mom’s or Dad’s financial affairs.
In addition to the stress and sadness over what’s happened, you immediately have to deal with practical matters: Will Mom be able to live in her home again? Can she afford a nursing home? Will insurance cover all of Dad’s medical bills?
And speaking of bills, you’ve got to start paying them – everything from utilities to credit cards.
Even if you’re not at this point with your parents yet, this list can help you decide what to do now – before anything happens.