Who should have access to my parents’ financial accounts? When should others have this access? What is needed to set up this access and what safety precautions should be set?
Legal and financial documents are personal and private and no one really wants this information to be the talk of the town, or the clubhouse. So who should have access to this information and when? Elder law attorney Martha Patterson offers some guidelines.
First of all, cautions Martha Patterson, the people who should have access to financial accounts should only be the truly trusted individuals. This is one of the most important plans you can make for second half of life. Martha Patterson also cautions that there should be an accounting of what these people do. Do not hesitate to set up requirements and obligations in your financial agreements. This makes planning necessary and there should be open family discussions so all the kids know who is in charge and who reports to who and what the oversight requirements and obligations are.
Elder law attorney Martha Patterson offers a free consultation and $500 off any paid services when you contact her at her website www.ElderLawMom.com and this is something you shouldn’t put off.