When is the right time to discuss financial matters with your parents or other aging loved ones? The answer is simple. Today.
There’s a wealth of information out there to discuss and decisions that need to be made now to ensure a financially sound future. As a caregiver, you need to know who should handle finances as a loved one ages, gets ill or becomes physically or mentally impaired. Health-care information, insurance coverage, Social Security and investment income information are essential for caregivers to know sooner, rather than later.
You also need to know where financial information is stored and what is needed to access the information if it is stored in a safe-deposit box or other secure place.
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