When your relative has money questions

Submitted on Wednesday July 3rd, 2013
hospice winston-salem

Is Dad asking if he should sell the house now that Mom is gone? Or perhaps Aunt Mary is anxious about her savings running out. Even if you are good at managing your own money, helping a relative make financial decisions can bring a lot of pressure. Consider hiring a professional advisor.

Ask your friends for the names of financial services specialists (financial planners or investment advisors) they would recommend.

Interview several candidates, in person. Ask about

  • experience and education. How long have they been in the advising business? (Aim for at least three years.) What kind of training did they receive?
  • typical client. What kinds of clients do they work with routinely? You are looking for someone who specializes in elders.

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