How a Financial Advisor Can Help Your Aging Parents

We are honored to be featured on SeniorAdvisor.com’s blog! Cheryl Sherrard, CFP® shares her knowledge and expertise with adult children who are trying to navigate the changing relationship with their aging parents.

 

You can preview a snapshot of the article below, or read the entire post by visiting SeniorAdvisor.com

How do you navigate this changing stage of life with your parents, without losing your mind or your relationship with them? Is there an easier way to work through these aging phases with your parents, while still allowing them to be in control of their own futures? This can be a difficult phase for both parent and child, but it can be manageable if approached in the right manner. If you’ve never been down this path before, locating the right resources to fit your parent’s needs can be both time consuming and confusing. You may not know what the realistic options are for your parents based on affordability, as they may be hesitant to share their financial information with you, their child. 

Many adult children are finding that a good approach is to engage a trusted financial advisor to work directly with their parents and act as an intermediary for many of the issues they will encounter. This trusted advisor should act as a fiduciary for your parents and should be well-versed in aging issues. This can be especially helpful if you do not live in close proximity to your parents and need someone local to assist them.

 


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