In this book the authors present information, guidance and responsibilities of money management for financial caregivers. Topics discussed in the book includes helpful information on help for agents under a power of attorney; help for court-appointed guardians of property and conservators; help for trustees under revocable living trust; help for representative payees and VA fiduciaries; top tips for selecting a financial professional; and what you need to know before choosing an investment adviser.
In this book the authors present information, guidance and responsibilities of money management for financial caregivers. Topics discussed in the book includes helpful information on help for agents under a power of attorney; help for court-appointed guardians of property and conservators; help for trustees under revocable living trust; help for representative payees and VA fiduciaries; top tips for selecting a financial professional; and what you need to know before choosing an investment adviser.
Description: In "Navigating Financial Caregiving: A Comprehensive Guide to Managing Your Loved One's Finances," you'll embark on a transformative journey through the intricate world of financial caregiving. This indispensable resource empowers caregivers with the knowledge, tools, and strategies essential to navigate the complex financial landscape of their loved ones, ensuring both their financial security and peace of mind. Delving deep into the heart of financial caregiving, this book begins by defining the role and highlighting its growing significance in today's society. It explores the emotional and psychological dimensions, emphasizing the profound impact financial caregiving can have on families. With practical guidance, you'll learn to conduct a thorough financial assessment, gather crucial documents, and identify income sources and expenses. Legal and ethical considerations are addressed, including the responsible use of powers of attorney, guardianship, and safeguarding against financial exploitation. "Navigating Financial Caregiving" provides expert insights into creating comprehensive budgets, planning for future expenses such as long-term care, and implementing smart investment strategies. Managing debt and credit, maximizing government assistance and benefits, and addressing healthcare and long-term care costs are also covered in depth. Discover valuable financial tools, online resources, and support networks to ease your caregiving journey. The book delves into the delicate art of family communication and resolving conflicts, ensuring a harmonious caregiving experience. In its final chapters, "Navigating Financial Caregiving" guides you through estate planning, end-of-life decisions, and the process of transitioning financial caregiving responsibilities. Real-life case studies and scenarios provide practical examples and solutions to common challenges. This book is your trusted companion in the world of financial caregiving, offering comprehensive knowledge and emotional support. By the time you turn the last page, you'll be equipped not only to fulfill your caregiving duties but also to ensure your loved one's financial future is secure. Remember, as a financial caregiver, you are not alone, and this book is here to guide you through the complexities with compassion and expertise.
Because caring for your parents' health also means caring for their wealth... Watching your parents decline and assuming the burden of caring for their physical needs is difficult enough, but you can't allow that to overshadow the importance of their financial needs. After all, what will happen if your parents outlive their savings? In order to be a financial caregiver, you'll need to know how to deal with legal and financial paperwork; government agencies and regulations; a host of insurance, investment, and estate planning issues; and the inevitable emotional and psychological issues that arise whenever money and family mix. In this indispensable guide, two family finance experts who are caring for their own parents' finances provide a basic primer in personal finance for those who are involved in their parents' financial lives. Filled with checklists, worksheets, resource lists, and other essential tools, this comprehensive guide supplies the knowledge and confidence you need to Decide who should manage your parents' money Communicate with siblings and caregivers Establish budgets and write annual reports Manage your parents' stocks, bonds, real estate, and other investments Deal with health insurance, Medicaid, and other insurance issues Protect your parents from elder fraud
One in four American adult face the challenges of caring for an adult friend or relative. Although caregiving can be a richly rewarding and joyful experience, the role comes with enormous responsibilities-- and pressures. This gentle guide provides practical resources and tips that are easy to find when you need them, whether you're caregiving day to day, planning for future needs, or in the middle of a crisis. Goyer offers insight, inspiration, and poignant stories and experiences of caregivers, including her own as a live-in caregiver for her parents.
A comprehensive guide to manage the finances of aging parents, discussing what to expect, and providing step- by-step instructions to protect their assets, evaluate their income, understand social security, do their taxes, and fulfill their wishes.
Family caregiving affects millions of Americans every day, in all walks of life. At least 17.7 million individuals in the United States are caregivers of an older adult with a health or functional limitation. The nation's family caregivers provide the lion's share of long-term care for our older adult population. They are also central to older adults' access to and receipt of health care and community-based social services. Yet the need to recognize and support caregivers is among the least appreciated challenges facing the aging U.S. population. Families Caring for an Aging America examines the prevalence and nature of family caregiving of older adults and the available evidence on the effectiveness of programs, supports, and other interventions designed to support family caregivers. This report also assesses and recommends policies to address the needs of family caregivers and to minimize the barriers that they encounter in trying to meet the needs of older adults.
This recently updated guide produced by the Bureau of Consumer Financial Protection (BCFP) and the Federal Deposit Insurance Corporation (FDIC) provides information on common frauds, scams and other forms of elder financial exploitation and suggests steps that older persons and their caregivers can take to avoid being targeted or victimized.The mission of the BCFP, a government agency, is to make markets for consumer financial products and services work for consumers by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. The FDIC is an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system.
