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My 86 years old dad (from Hong Kong..HK) is getting forgetful. As his daughter (with a family of four), has agreed to have him live with us (Arizona). He has a current Visitor's Visa.
How is the best way to financially manage his finances? He has financially prepared for retirement and has his resources in HK.
What arrangements are there for him in terms of health care?
Have tons of questions, but this is a start.

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As a first step, I'd find what banks have "correspondent relationships" in both HK and AZ. Like for Mexico & US, HSBC is one (& imo the best bigger bank to use now). There's going to be some for HK and US although it may be banks along the west coast. It may be 9K shifts due to laundering concerns. Then dad moves his funds over time into that new account with you as a signature on it and it's done also as POD to you. Or to you and a sibling. All this he should be able to do without ever being a US citizen & he has 2 addresses for his banking file. He just need to be with-it enough to answer a few ?'s on his own (as the bank office will likely meet with him solo in his/her office). If dad has a lot of $, you are going to want dad & you to meet with a trust officer. Banks that deal with higher net worth folks will have a trust division and they are invaluable for information and for referrals to atty's, etc.

So can dad be competent & cognitive long enough to do this? think about it…. and if there are things you can do to get dad to be with-it more. Like for my mom she was totally used to 1 branch of her bank, felt totally calm and secure at it but once we had to go to another branch she was totally confused even though it was her old bank officer she was meeting with. So give some thought as to what to do to get dad prepped & good to go, comprende?
If there is a language barrier and no AZ banks bilingual, then you kinda just need to go to San Fran or wherever on west coast to get this banking done. I would not try Skype with dad as it's just spooky for old folks unless he is very tech savvy when he's having a good day. LOL?

Do you have a trusted sibling or cousin in HK to deal with whatever from that end?
Whatever the case it's going to be involved!
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Thank you very much igloo572. This is a good start. It lowers my anxiety a bit. Thankfully my dad still has good decision making process, for how long is the concern. Language is a barrier. I will be the only one he will be able to speak with at home. I hope my brother will call him often after dad moves-in. I will ask my tax person for inputs too. Thank You for sharing.
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Regarding health care, your Dad wouldn't qualify for Medicare, but he might qualify for Medicaid [he may need to become a U.S. citizen, not sure, there are exceptions for the very elderly].   If Medicaid isn't available, then the next best thing is to get your Dad health insurance from the open market.

One of my friends who's elderly inlaws came over to visit from the old country for a year, all the children chipped in and got the parents Kaiser insurance.
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Thanks freqflyer! I feel much better having this forum's support.
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