Reply to What is the right age to begin to talk to your parents about protecting their finances?

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[quote=Anonymous] For us, it was when Mom sort of started to accept that Dad's parkinsons was advancing faster. Brother and I had wanted to have this conversation years before-not to know their business or inheritance blah blah blah, but really because if something happened to Mom, Dad can't cognitively handle it and he needs a full time caregiver physically.

I finally got them to see an elder atty (recommended by my divorce atty) and they did POA and a trust for the house. THANK GOODNESS they did this because about 3 months later...Dad fell while Mom was helping him put on shoes and she broke her hip and they were both hospitalized! I needed and used the POA then.

But they hadn't added me to a bank account, and I literally was paying their elec bill and the landscaper out of my own cash just to keep the house running (they had to go to rehab). So now I'm on a small account so I could at least pay bills if I ever had to again-and if something happens to Mom I have to step in right away. You really don't realize about that until it happens. You need to pay certain things quickly or you won't have water or lights.

My parents have always been good with money and never scammed, but I do regularly chat with them about scams "if you get a phone call from one of my kids saying they're in jail in mexico and need money, don't do it!!! it's a scam, Call me' just so they are aware of scams out there.[/quote]

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