What can you do to help your parents who are resisting help when it comes to their finances

Just as many older people resist giving up driving, they also fight giving up their "financial driver's license." Unfortunately, when people develop even mild cognitive impairment, their ability to handle finances is impaired. As a first step you can offer to help with the bill paying. This way you can monitor how things are going and your parent would not be giving up control, they would just be getting some help.

There are also money-management programs that help with bill paying, if you think having a neutral third party would help. To find one, contact your local Area Agency on Aging through eldercare.gov.

If your parent has a progressive condition which is likely to continue to decline, it is important to designate someone now, while they still have the mental capacity to make a power of attorney or a trust rather than having to go to court later to file for guardianship. Sometimes having a trusted professional, such as her primary care physician or a family lawyer, make the suggestion would make it more likely to happen.

The Attorneys at Bradford Miller Law, P.C. have excellent credentials, strong experience and wide-ranging knowledge of estate planning tools and the Illinois probate process. We do not believe in pushing complex or costly services that our clients do not need. We believe in making the entire process as convenient, painless and affordable as possible for you. At www.bradfordmillerlaw.com you can find helpful information regarding Estate Planning and information about our firm. Give us a call at (312) 238-9298 for a FREE 15-minute consultation.

Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law and Estate Planning
134 N. LaSalle Street, Suite 1040
Chicago, Il 60602

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