Caring for elderly parents' finances

Meeting resistance
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Meeting resistance

Some parents willingly sign a power of attorney, but never let the child use it. Others don't get that far. What happens when parents need help but don't want to take it?

"Some techniques are practical and some are legal," says Margolis. "Taking control can be a gradual thing. Sometimes what children do is a little bit of subterfuge." For example, with a spendthrift parent, you may remove a credit card or make sure there are not unlimited funds in the checking account.




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