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Part three of nine: I have been answering questions that came via email to our GOING HOME, STAYING HOME questions and answer service. GOING HOME, STAYING HOME is a weekly virtual session that I cohost with other geriatric experts. There were nine questions, and this is the third of nine.
Q: How do I help my parent figure out where money is going? What can I use to help my mom set up to more easily manage her finances and her therapy appointments for the Medicare people coming to the house, and how do I know what accounts exist?
A: Money is one thing that causes conflict in family caregiving. The difficulty of handling money is one of the challenges that aging adults face every day, and it has become one of the signs that someone needs help from others. It threatens the independence of an older person. If you get too involved in managing your parents’ financial affairs, it could potentially cause a change in your role and your relationship. Our relationship with our aging parents is usually better when we remain the child. It is better to engage and retain other professionals, such as care managers, bookkeepers, attorneys, and professional caregivers.
Regarding the management of her finances and identification of where money is going and which accounts they own, I highly recommend that you consider the services of a daily money manager. A daily money manager specializes in helping people manage their day-to-day personal finances—paying bills, tracking insurance claims, organizing files, safeguarding important financial documents, budgeting, and more.
For her appointments, consider a simple calendar and ask the Medicare therapist to write down their appointment dates and times. If someone you love needs care, is coming home from the hospital or the rehab facility, and you have questions, need resources, or want to learn, join me on Tuesdays at 11 am on Zoom. No need to leave your home, office, or business. You can attend from anywhere via your computer or telephone. Call or email me for the link or call in phone numbers.
Part two of nine: Last time, I started a series from questions that came by email (to the Going Home, Staying weekly virtual session that I cohost with other geriatric experts) from the CFO and some of his employees who are also caring for loved ones.
Q: When my mom is coming home from a skilled rehab facility after being in the hospital, what services do I need in place?
