There comes a time in everyone’s life where the roles we play with our parents reverse. They have always taken care of you, but as they get older, you will find that they start to need your support.
Some parents need only little things – picking up groceries, doing laundry, or cleaning the house while you are over for dinner. It helps to take these things off their plate, reducing their stress and promoting their wellbeing.
But don’t forget to also keep an eye out for your parent’s financial well-being. There are usually some very clear signs when your parents are no longer able to handle this task. When this happens, you will want to make sure you have a plan in place to get their bills paid on time and not let them fall into any financial trouble.
Tips to Support My Parents From Out of State
With most things, it should be possible to help your parents at a distance. Download Task Rabbit (an app) to hire a handyman or cleaner, and set up an Amazon Fresh account that delivers groceries on a bi-weekly basis. These and many other apps have made it possible to give your parent the support they need without paying for a flight to be with them.
Similarly, most of their finances should also be able to be handled electronically. Just be sure to plan ahead. When you are in town, set up auto-billing and paperless bills for your parents. This way, you can login and check on their bills anytime you need to, while also reducing the mail delivered to their house. Making the mail less important to check for a bill can make them less susceptible to scams that steal from the elderly.
How Do I Get My Parents to Sign Financial Documents?
If you don’t live close to your parents, you may have a hard time helping them sign important financial documents. For example, if they are going to be filing their living trust (Related Article: Living Trust: What is it and Why Do I Need It?) or estate plan, they will need to sign documents with a notary public. It cannot be done electronically.
In the event that this happens, you can call Marcia L. Campbell CPA to help. Our office specializes in senior care and financial management, so will be able to pick up your parent from their home and bring them to the bank. Furthermore, we’ll take the time to ensure your parent understands everything that is being said before signing anything.
If you have any questions or need our help, please don’t hesitate to contact us.