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Every year, millions of Americans transfer their finances to their children or other family members because they reach a point at which they can no longer manage them alone. For those who are about to start managing the finances of their parents, it is important to know exactly how to protect their assets, manage their taxes, and live up to their wishes. This book has been written to do just that, providing a comprehensive walkthrough of what you can expect and how to successfully handle your parents finances.
To start, you must learn the basics of managing money that is not your own. You will be provided with a step-by-step chapter on how to keep track of funds, maintain the same accounting methods your parents have used for decades, and keep everything organized and separate from your own. You will learn how to evaluate sources of income including how to receive and manage Social Security, 401(k), and other retirement plans as payments are made. Additionally, you will learn h
