Do your homework

    You should know the basics of your parents financial situation. You should make sure that you gather the right information instead of going off possible hearsay. Use the sources available to you to get the facts on their financial situation. 

Know “Why’

     You should understand your reasons for talking about finances with your parents. Make sure to be specific about your concerns for them. This could be current or future events. Could others scam them? Are their bills getting paid?

Find the right time and place

     Try to prevent any issues with their finances by coming to them early. Wait until the right moment and everyone is comfortable. 

Speak in general terms

    Alert you elders to the countless number of scams that are taking place today. You can also mention the cost of everything going up. Your parents most likely won’t disagree. 

Be empathetic and ask questions

     Most people don’t like this type of interference in their lives. Your parents are probably no different. Approach the subject with love and kindness. Ask them how they feel about their future, ask them about their bills being paid and their finances.  

Watch for warning signs

    Inability to handle finances as an elder could be a sign of dementia. Keep up with their health and take them to a doctor if you have suspicions about it. 

Include Professionals

    When it comes to handling your parents finances or assets it’s best to get a professional involved. Contact your local elder law attorney to find out what best suits your parents needs. This will save them time and money down the road.