You may want to keep an eye on their finances by either getting their passwords for viewing their accounts online or by setting up the ability to see their accounts online. I say that because I wish that I had done this for my mother.
You can also see their monthly bank statements that way. This access would likely be possible for investments as well. It was for my mother's and my joint investments account that was apart from my step-father.
Wilson, you could hire a CPA to take over the finances but the CPA would be charging you or your parents an hourly rate. The cost would be worth it if you feel you can't get a handle on your parent's finances, especially if there is a boatload of stock, money markets, bonds, etc. Enough to make your head spin.
There are also case care managers, who can help with things like making appointments, arranging for transportation, getting their groceries delivered and just checking on their status a couple of days per week. I've read it's good to have a person who can actually have weekly or even daily contact to stay on top of things. I looked into it once and the prices weren't that bad.
Do you have durable POA for each of them? You need to get that first. Once you have that and present it to their banks, I would try to set up as many bills as possible as direct bill to their checking account if they are regular bills like utilities, and insurance.
It wouldn't be easy for non family members to take over your parents finances. They would need power of attorney, sign up on bank accounts etc.
Home care agencies could send someone to help your mom but you'd have to make damn sure they were trustworthy and bonded. It can be very easy to scam elders. I can't think of any agency, law office, accountant I would trust with my folks accounts.
Most people do this for their parents. With alz this is going to get much harder. Do you have poa?
I handle all my parents bills and finances from 600 miles away. It took some doing but I've finally completed the process. All bills and statements are sent to me and I write checks from their accounts.
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You may want to keep an eye on their finances by either getting their passwords for viewing their accounts online or by setting up the ability to see their accounts online. I say that because I wish that I had done this for my mother.
You can also see their monthly bank statements that way. This access would likely be possible for investments as well. It was for my mother's and my joint investments account that was apart from my step-father.
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Home care agencies could send someone to help your mom but you'd have to make damn sure they were trustworthy and bonded. It can be very easy to scam elders. I can't think of any agency, law office, accountant I would trust with my folks accounts.
Most people do this for their parents. With alz this is going to get much harder. Do you have poa?
I handle all my parents bills and finances from 600 miles away. It took some doing but I've finally completed the process. All bills and statements are sent to me and I write checks from their accounts.