Aging Relatives

Caring for those who once cared for us

The Situation

It’s not easy to decide what to do when an aging parent or relative ceases to have the desire or ability to continue managing their finances. This situation can carry a substantial burden for the people taking over, as it’s one thing to be responsible for your own financial future, but quite another thing when you assume control for someone else. In many instances, people taking over this role do not have the experience, expertise or time needed to effectively manage the investment and financial decisions for their aging parent or relative. It may be preferable for all concerned to engage someone, such as Daltium, to help lighten the load.

Areas to consider include:

If you are a successor trustee or have a power of attorney to manage your relative’s financial affairs, how do you aim to live up to your fiduciary and legal duties?

How We Help

Having helped many clients who find themselves in this situation, Daltium understands the time and effort needed to help an aging relative with their finances. No matter how organized and knowledgeable you are, it is still a huge responsibility. We help you understand where you are now, where you want to be in the future, and identify ways to implement solutions to reach your financial goals.

The Daltium process includes:

Preparing for upcoming financial outlays, such as medical or long-term care,

Determining the correct balance of security, income, and growth for their investments,

Reviewing and updating estate plans,

Assistance with taxation.