With Australia's rapidly aging population, there is a good chance that your parents might be reaching an age where it is difficult to manage their own financial affairs. Chances are that one of your parents (more likely your mother) will be left to work things out and is probably confused by the choices she has to make.
Addressing money matters and estate planning and what happens to living arrangements for ageing parents can often be a sensitive issue within families, but decisions need to be made.
'Helping Your Parents With Their Money Matters' answers all of your difficult questions. It is organised in three parts: Part 1 approaches the task of helping your parents hand over or share day-to-day control of their finances, organising to be a signatory on bank accounts or to have power of attorney. Part 2 deals with money matters, such as investments, insurances, wills and wishes. Part 3 discusses introducing home-help to your parents or perhaps downsizing from the family home to a unit or residential care or even to inviting a parent to move in with one of their children and their families.
