5 Tips For Helping An Elderly Loved One Pay Bills
Last week, I gave you 3 signs to watch for when visiting an elderly loved one during the holidays. If you missed it, you can read it here.
My suggestion, of course, is to enlist the help of a Daily Money Manager. But what if that’s not a realistic option due to costs or the desire of the senior?
If the responsibility to help will fall on your shoulders, here’s a good article by Geoff Williams that will help you get started helping to pay the bills and take care of the daily money matters of your senior loved one. You can read the full article here.
Some of his advice includes: setting up automatic bill payments, having the senior’s mail diverted to a PO Box or your home, and putting a Power of Attorney (or POA) in place.
Williams finishes with this important piece of information: keep your parents involved in the process for as long as possible.
“It may be easier and faster for you to handle everything, but it will likely help your relative’s morale if he or she still has a hand in making some decisions, provided you can do it in a way that promotes bonding time and alleviates stress.”
That last part is very important and it’s how we like to work at Senior Partners: we don’t come in and “take over,” we like to work with the senior and make sure they are included in everything that’s going on–as much as they can be.
If you have any questions about our services, please schedule a free 15-minute call with us by clicking here.