Jon P. Beyrer

Mom has Alzheimer’s and lives in a facility. My sister has power of attorney. Mom wants to gift $150,000 to grandkids rather than using it to pay for care. She worked all her life paying for Medicare. Shouldn't she be able to use it instead of her savings
Jon P. Beyrer answered: This is a difficult dilemma, and one that many families are facing. The dilemma can often be avoided or mitigated with advance planning, but that doesn’t help in your case.
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How do I go about finding a financial advisor for my parent?
Jon P. Beyrer answered: Personal finance is a broad, complex, and ever-changing field, yet just about anyone can call themselves a financial advisor. The advisor you choose must be competent, well-informed, and experienced in the areas of investment management and financial counseling. Read Jon Beyrer's full answer.
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How can I help my parent manage her financial information?
Jon P. Beyrer answered: For many caregivers, the resistance you get and the feeling that you are invading your relative’s privacy may leave you less than completely aware of your elder’s finances. But, if you wait until the elder becomes incapacitated to broach the subject of paperwork, locating important documents can be a much more difficult process.
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How do I balance my responsibilities as caregiver with the long term financial goals of the senior?
Jon P. Beyrer answered: Your primary responsibility is to make sure your relative’s needs are being met. This includes physical needs, health needs, safety and security, and emotional needs, any of which may involve spending money.
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What do I need to know to best manage the cost of care?
Jon P. Beyrer answered: If the time, energy, and medical necessities of care make doing it yourself difficult or impossible, you will need to get help -- and help in this area can be expensive. Click to read Jon's full answer.
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How do I ensure that I have legal authority to act on the behalf of my elderly parent should the need arise?
Jon P. Beyrer answered: To avoid a maze of bureaucratic hurdles and the frustration caused by an inability to act at precisely the time you need to, make sure your loved one has the proper legal documents in place. Click to read Jon's full answer.
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