Despite their lack of request for assistance, many aging parents may truly benefit from their children’s assistance with their financial well-being. Contrary to what you may believe, I don’t necessarily mean direct financial assistance.
Instead, I am talking about assistance in the practical terms of ensuring bills are paid . . . especially those recurring utility bills. Even if your parents are reluctant to grant you authority under a Power of Attorney (which I can’t recommend instituting strongly enough), you can still assist your parents in setting up auto-bill-pay through their bank. If your parents have more complex financial affairs, there are even various fee-based services to assist with such automated bill payments.
To learn more about ensuring your aging parents’ bill payments, click here.