Money and aging
March 20, 2018
I’m Miriam Neff-with STARTING OVER FINANCIALLY, and I’m Valerie Neff Hogan, and we’re here to talk about money
M Age changes things. Like it or not, our ability to manage complex tasks may decline with age. And financial tasks are complex. Family members may be surprised to see overdue bills on their aging parents table. First suggestion: start talking early about a plan.
V By the time a person has lost their ability to make good choices, they may have also lost the ability to determine who they can trust. That’s why we say, start the conversation early. Yes, there are unscrupulous people even relatives. Determine who will have power of attorney for property and when they will take responsibility.
M Yes, its time consuming and even emotionally draining. But the benefits in the future years far outweigh those challenges.