Protecting Your Parents' Money

by Opdyke, Jeff D.

• ISBN13: 9780061358203
• ISBN10: 0061358207
• Format: Paperback
• Copyright: 2011-08-09
• Publisher: Harperbusiness

Summary

From the day we receive our first piggybank to the day we can financially make it on our own, our parents play a fundamental role in our financial lives. One of the most poignant stages in life comes when you must assume the role of the parent to your parents. It can be a frenetic stage, in which you struggle to understand the finances specific to aging parents-often in the face of an emergency.Protecting Your Parents' Money is the essential guide to helping you navigate this confusing and difficult transition, and provide a game plan for tackling complex like estate planning, Medicare planning, and nursing homes. Most importantly, it will help bridge the communication barrier between parents and adult children that can make the process so much more difficult than it needs to be.Among the topics covered: Personal Finance 101: The Senior Years: The essential definitions and workings of the myriad investment options and financial requirements your parents will deal with in retirement The Talk: The one, all-encompassing discussion every child needs to have with every parent at some point. The Move: The hunt for a quality home. How do you research nursing homes? What should you be looking for? How do you compare costs and how are your parents assets factored into the mix? Understanding Medicare Elder Fraud: How to look for tell-tale signs that your parents have been victimized.At a time when the nation prepares for the pending retirement of the massive Baby Boomer generation, this book will provide the comprehensive map you will need to navigate the breadth of financial issues, while treating seniors with dignity and compassion they deserve.