Costly financial mistakes and elder abuse are prevalent issues with aging parents and their finances, but how can you find someone you trust to help them? Daily money managers can help elders do just about everything, including pay bills, budget, and keep track of insurance claims. This field, however, is relatively new, which means it does not have government oversight, so you must be careful when considering just who to turnover your financial information to. Professional societies and nonprofit organizations can help assist you with picking a trusted candidate.
See Anna Prior, When Aging Parents Need Help with Financial Tasks, Wall Street Journal, June 10, 2016.
