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What happens when handling the finances becomes an overwhelming burden for aging parents? Many transfer their funds to children or other family members and multi-millions are lost each year in the ensuing confusion. If you find that you are the one taking on financial responsibility, we suggest taking a look at Bill Swan’s “The Complete Guide to Managing Your Parents’ Finances When They Cannot: A Step-by-Step Plan to Protect Their Assets, Limit Taxes, and Ensure Their Wishes Are Fulfilled. Available through Amazon (copyright 2010), it really is an organized “how to” with chapters to guide you through the basics of money management, discussing money issues with your parents, how to deal with the stress of financial care-giving, and financial and legal procedures. From medical bills to taxes, wills, trusts and burials, the book walks you through each in well explained yet easy to understand terms. It also includes worksheets to get you started. A truly valuable resource guide.
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