{"id":7411,"date":"2016-01-01T07:10:31","date_gmt":"2016-01-01T13:10:31","guid":{"rendered":"https:\/\/www.senioradvisor.com\/blog\/?p=7411"},"modified":"2017-09-19T18:34:41","modified_gmt":"2017-09-19T23:34:41","slug":"the-caregivers-guide-to-organizing-financial-records","status":"publish","type":"post","link":"https:\/\/d30braiqprupoq.cloudfront.net\/blog\/2016\/01\/the-caregivers-guide-to-organizing-financial-records\/","title":{"rendered":"The Caregiver\u2019s Guide to Organizing Financial Records"},"content":{"rendered":"

The Caregiver\u2019s Guide to Organizing Financial Records\"The<\/h1>\n

Do you know your current bank account amount at this exact moment? Have you saved the receipts from every credit card purchase you\u2019ve made this month? Where is your tax return from three years ago?<\/span><\/em><\/p>\n

If you\u2019re like most of us, much of your most important financial information is probably spread out, involving multiple companies, accounts, passwords, websites, and even old-fashioned filing cabinets. Now, imagine trying to get a grasp on all the financial information for a person you care about \u2013 like an aging parent or friend \u2013 and you\u2019ll immediately get a sense of what an intimidating task that might be.<\/span><\/p>\n

Adding to the challenge is the delicacy of the situation, especially when it comes to financial documentation. People tend to get a little nervous when loved ones start asking about bank accounts and investment portfolios. However, just as with other important documents (like a power of attorney or will), it\u2019s best to discuss these things<\/a><\/strong> while your loved one is healthy and in good mental condition so that they can communicate their knowledge and desires effectively. <\/span><\/p>\n

So how do you breach the subject?<\/span><\/h2>\n

Rather than jumping right into financial discussions \u2013 and possibly causing paranoia or fear of a loss of control \u2013 you should start with more general discussions on other personal documents. For example, simply ask your mom or dad where they store their marriage license, their living will<\/a><\/strong> in case of an accident, records of their military service, etc. These non-threatening documents may open the door to discussing financial records as well.<\/span><\/p>\n

Which documents should you keep?<\/span><\/h2>\n

Once you have the conversation started and have begun the gathering phase of your document consolidation, you can start zeroing in on locating important financial documents, including:<\/span><\/p>\n