How to Care For Your Parents' Money While Caring for Your Parents (Paperback)

by Sharon Burns (Author), Raymond Forgue (Author) "GETTING INVOLVED in your parents' finances must be approached with hardheaded logic and emotional kid gloves..." (more)
Key Phrases: nonprobate property, unattached structures, final tax liability, Emma Evans, Martha Johnson, Internal Revenue Service (more...)

Editorial Reviews

Review
Get this book as preparation for when you have to parent your parent. -- Michelle Singletary, The Color of Money, Washington Post, March 14, 2004

Product Description
Because caring for your parents' health also means caring for their wealth...Watching your parents decline and assuming the burden of caring for their physical needs is difficult enough, but you can't allow that to overshadow the importance of their financial needs. After all, what will happen if your parents outlive their savings? In order to be a financial caregiver, you'll need to know how to deal with legal and financial paperwork; government agencies and regulations; a host of insurance, investment, and estate planning issues; and the inevitable emotional and psychological issues that arise whenever money and family mix. In this indispensable guide, two family finance experts who are caring for their own parents' finances provide a basic primer in personal finance for those who are involved in their parents' financial lives. Filled with checklists, worksheets, resource lists, and other essential tools, this comprehensive guide supplies the knowledge and confidence you need to: decide who should manage your parents' money; communicate with siblings and caregivers; establish budgets and write annual reports; manage your parents' stocks, bonds, real estate, and other investments; deal with health insurance, Medicaid, and other insurance issues; and protect your parents from elder fraud.

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Product Details

• Paperback: 304 pages
• Publisher: McGraw-Hill; 1 edition (March 21, 2003)
• Language: English
• ISBN-10: 0071408665
• ISBN-13: 978-0071408660
• Product Dimensions: 8.9 x 5.9 x 0.9 inches
• Shipping Weight: 14.4 ounces (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars See all reviews (2 customer reviews)
• Amazon.com Sales Rank: #580,273 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

19 of 19 people found the following review helpful:

5.0 out of 5 stars An invaluable find! Recommended for everyone!, April 7, 2004

By A Customer

I picked up this book after reading about it in Michelle Singletary's column. I can't believe I never knew it existed. I have been struggling to handle my parents' finances and stressing about how to do it fairly, without upsetting my brother and causing family discord. Finally, I've found good, solid advice on exactly how to do this. Not only is this book essential for anyone in my position, but I highly recommend it for anyone who thinks that someday they might be taking care of someone else's finances.

17 of 17 people found the following review helpful:

5.0 out of 5 stars Buy this book if you have a parent who needs your care, April 1, 2004

By A Customer

This book is solutions focused. It offers concise advice that is really helpful. Learn how to broach the tough money questions with parents who never talked with their kids about sex or money. Then learn exactly what to do to improve your parents finances and your own, and their, peace of mind. I recommend it highly!