Keep your eyes open for red flags that your loved one's finances might be off track.
You won't know what kind of shape your parent's finances are in until you ask. Money is always a sticky topic, so come to the discussion prepared to cover the most important issues:
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More About Caregiver Finances
- What are the risks with reverse mortgages?
- How do we tell her we're taking over her finances?
- How can we figure out our parent's financial situation if they are unable to give us information?
- Is Mom incompetent to handle her finances?
- How do we buy a house back that had a reverse mortage?
- Is my father responsible for money borrowed on his credit card?
- Am I responsible for my mother's bills if she can not pay them?
- Is Mom liable for Dad's credit card debt?
- Can I pay myself a salary from the family trust?
- Can I stop Dad's irresponsible spending?
- Should my mother sell me her house now?
- How can I get Mom to control her finances?
- Can I get my brother off Mom's bank account?
- Who is ultimately responsible for funeral expenses?
- How do I sell mom's house now that dad has died?