CNN Money has an excellent article about helping your aging parents manage their finances.

It is far better to have a plan now so that you can get the necessary financial tasks done later, the article emphasizes.

Yvette Mesquita is an example of a middle aged daughter helping her 71-year-old dad avoid financial disaster, but she had to learn about such things as the importance of opening up a joint checking account with the durable power of attorney.

A lot of us may not be as lucky as Yvette and we may not have the opportunity to ‘learn on the job’,so the importance of getting the information now is even more vital.

The article has a list of the 5 most important tips plus a lot of sub-tips. (I love lists.) 

Read more about helping your aging parent manage their finances and money in Managing your folks’ money:5 steps

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