Supporting Your Aging Parents
Download our Caring for Aging Parents Guide for helpful support and considerations for you and your parent(s).
Caring for your aging parent(s) and their personal finances can bring emotional strain and challenging financial responsibilities. It can be heartbreaking and stressful to watch a loved one’s independence and decision-making capacity diminish. Stepping in to help and protect their finances can be delicate and overwhelming. To help ease this journey, we’ve created a comprehensive Caring for Aging Parents Guide that brings awareness to important financial considerations including:
Gaining access to key documents, such as estate plans, and knowing who their financial and legal advisors are.
Reviewing your parents’ finances to ensure they can manage their expenses and uncover potential income sources they might not realize.
The benefits of having a complete picture of your parents’ assets, liabilities, and overall financial situation.
Exploring options to cover long-term care costs, including Medicaid planning and reverse mortgages.
Understanding estate tax implications and keeping beneficiary designations and important documents current.
Managing taxes efficiently, including medical expense deductions and capital gains.
Download our Caring for Aging Parents Guide here.
While checklists and flowcharts can help you identify different opportunities, we are always available to meet with you to discuss your financial needs and goals, and help to identify what the best opportunities are for you.
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This content is provided by Windward Private Wealth Management Inc. (“Windward” or the “Firm”) for informational purposes only. Investing involves the risk of loss and investors should be prepared to bear potential losses. No portion of this blog is to be construed as a solicitation to buy or sell a security or the provision of personalized investment, tax or legal advice. Certain information contained in the individual blog posts will be derived from sources that Windward believes to be reliable; however, the Firm does not guarantee the accuracy or timeliness of such information and assumes no liability for any resulting damages.
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