What can I do to help my aging parents manage their money?

Helping elderly parents manage their money

As your parents age, there may come a time when you will have to help them manage their finances. Preparing for this early will help you navigate the scenario if the time ever comes. 

This infographic will give you an idea for some of the ways you could help your elderly parents manage their finances.

Consolidate their accounts

Simplify their finances by combining similar accounts.

Create a data organization document

Organize and document any investment statements, professional contacts, safety deposit boxes, legal documents and important passwords.

Make sure their estate plan is up to date

Ensure their Powers of Attorney are up to date and that their Will is still accurate and reflects all their current wishes.

Hire a professional

Help them look for a wealth advisor to ensure that everything is in place.

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