Perhaps it seems like your senior parents are losing track of their finances. You might be worried about their spending habits or their lack of organization. If your parents need round-the-clock care, you may want to look into an assisted living facility such as Alder Terrace. But if they simply need some help handling their finances, these tips can help you take care of them.
Keep Track of Any Concerning Signs
Have you noticed any signs around your parents’ home indicating that something might be wrong? Maybe you saw stacks of unopened envelopes in their kitchen, even though they used to keep their home quite tidy. Or maybe you’ve noticed packages from strange purchases that they’ve mentioned. If your parents have suddenly become disorganized or adopted odd spending habits, they may not be able to manage their own finances.
Note Any Medical Problems
Have your parents been struggling with medical issues such as blurry vision or memory problems? If so, it’s probably time to step in when it comes to their finances. Credit Karma also suggests checking in with their neighbors and friends if you feel comfortable doing so – they might have noticed concerning behaviors that you wouldn’t see unless you lived with your parents.
Manage Their Finances as a Family
If you plan to take over your parents’ finances for them, you’ll need to have an in-depth conversation with them about it first. You may also need to get your siblings involved. To start this conversation, Principal suggests bringing up a gentler topic first, like their general plans for retirement. Then you can bring up your concerns and broach the idea of taking on certain financial responsibilities for them, such as creating monthly budgets, filing their taxes, paying off their credit card bills on time, or even helping them set up a power of attorney. If they agree to let you manage their finances, you’ll need to get information on their bank accounts as well as any benefits they receive, like Social Security, Medicaid, or Medicare.
Encourage Them to Sell Their Business
If your parents are business owners, and you’ve realized that they’re no longer capable of managing their finances on their own, it’s time to encourage them to sell their business. This may take more than one conversation, so be patient. And before they get ready to officially sell it, make sure to get a professional valuation carried out so that you can accurately determine how much the business is worth. This valuation should include all of the company assets, such as the real estate and inventory.
Hire Help
Of course, it never hurts to talk to a financial advisor in this situation. By talking to an advisor, you can get expert guidance on your parents’ specific situation. Try to seek out an advisor who works with families and offers services geared towards seniors.
Furthermore, if you’re worried about your parents’ overall quality of life, you may want to bring ina part-time caregiver who can assist them with daily tasks. By helping your parents with their finances and hiring a caregiver to lend them a hand during the day, you can enjoy peace of mind.
It can be difficult to talk to your parents about their finances – and taking control of their financial situation for their benefit can be even more complicated. That’s why it’s important to approach this issue with a plan in mind. With these suggestions, you’ll be ready to give your parents the help they need so that they can get their finances under control.
Are you seeking an assisted living facility for your senior loved ones? Find a home for them at Alder Terrace. Fill out the contact form on our website today to schedule a consultation.
Howard of Ho Ho Buys Cars has earned a stellar reputation as a trustworthy and compassionate professional, especially when working with seniors in need of selling their vehicles. Mary Catherine Lewis, of Tranquil Transition Partners, has praised Howard for his ethical approach and outstanding service when assisting clients transitioning to senior living.Tranquil Transition Partners frequently refers clients to Ho Ho Buys Cars when they need to sell their vehicles to help fund their move to a senior living community. Howard consistently demonstrates efficiency, kindness, and respect, making the often-sensitive process smoother for seniors and their families.Mary Catherine highlighted Howard's willingness to accommodate timelines and his respectful demeanor toward customers, understanding the emotional reasons behind selling a vehicle. His integrity and professionalism make him a reliable choice for anyone seeking auto sale services.If you or a loved one need to sell a vehicle as part of a transition to senior living, consider Ho Ho Buys Cars for a smooth, dignified experience led by a true professional.
VENICE, FL- Convivial Jacaranda Trace is proud to celebrate a remarkable milestone in the lives of its residents: the Centenarians who have made our Jacaranda Trace community a stronger, richer, and more vibrant place to call home. With a deep sense of pride, the community will come together to honor these extraordinary individuals who have reached the incredible age of 100 or more.Inspired by Czech photographer Jan Langers portrait series Faces of a Century, Chaplain Anne Feibelman, Spiritual Life Director at Convivial Jacaranda Trace, created a similar program to honor the communitys own Centenarians. We invited all members aged 99+ to participate in this special project exhibiting their younger selves with a current photo. The exhibit offered timeless portraits over the pastime and life experiences of six extraordinary women, and at some deep level, unchanged by the passage of time, says Feibelman, Our Centenarian residents of Convivial Jacaranda Trace come from diverse backgrounds and have lived through incredible historical events, including the Great Depression, World War II, and the rapid advancements of technology and society. Theyve raised families, contributed to their professions, and volunteered their time to improve their communities, leaving an indelible mark on the fabric of our society. The exhibit shows the beauty and elegance of aging successfully and that, as time passes, we remain ultimately ourselves.The event, titled "Centennial Celebration: A Legacy of Resilience and Wisdom," will take place on Wednesday, January 8, 2025 at Convivial Jacaranda Trace. Residents, families, friends, and community leaders will gather for a special ceremony recognizing the accomplishments, contributions, and enduring spirits of the centenarians who have lived through some of the most transformative moments in history.We are thrilled to celebrate our centenarians, whose lives are living testaments to resilience, adaptability, and strength, said Joel Anderson, CEO of Jacaranda Trace. These remarkable women have not only witnessed the passage of time but have shaped the character of our Jacaranda Trace community. They embody our values of love, life and laughter, and we are excited to celebrate their remarkable journeys.A highlight of the celebration will be the unveiling of the photographs of the Centenarians followed by a reception with light refreshments with personalized tributes from friends and family members.Its not every day that we get to celebrate people who have lived through so much, said Warren Hall, President of the Members Advisory Council. Our Centenarians have seen history unfold in ways we can only imagine. Their legacy is one of deep wisdom, strength, and connection, and we are privileged to share in their joy and honor their lives.For more information about the event, please contact Christine Clyne at cclyne@conviviallife.org or 941.260.3946.About Convivial Life Convivial Life is the solid underpinning of the Jacaranda Trace community. Convivial is a mission-driven, not-for-profit organization that operates vibrant senior living communities that promote an active lifestyle and opportunities to enjoy life to its fullest. They are inspired to create first-class communities centered in love, life, and laughter, offering distinct residences, desirable amenities, and tailored wellness and healthcare support. If you would like to learn more about Convivial Life and their family of communities, visit their website at https://conviviallife.org/.
This past Thanksgiving, I had the privilege of assisting a wonderful senior couple from West Bradenton. Their story is one of love, family, and the determination to make a big change happen in record time. Over the holiday, after spending precious moments with their only daughter and grandchild, they made a heartfelt decision: they wanted to move closer to family up northand they wanted to do it by Christmas.But as anyone who has been through it knows, selling a home and moving, especially on such a tight timeline, comes with its own set of challenges. And this home had its fair share. The couple wanted to sell their house for top dollar, but there were obstacles to overcome:A house full of life: Three adults, an infant, a dog, and two cats meant keeping the home show-ready for potential buyers was going to be near impossible.Post-Hurricane Milton repairs: The privacy fence was still lying on the ground, a leftover reminder of the storm.Curb appeal issues: The porch floor bore the wear and tear of ten years of paint scrapes, giving it an unkempt look.Interior details: Light fixtures had mismatched bulbs, and the house carried the unmistakable smell of its feline residents.Crafting a Plan for SuccessDuring our initial consultations, we discussed the reality of selling the home in its current state versus making a few key updates. It became clear that the house would show best if it were vacant. However, the couple needed their savings intact to start fresh in their new hometown.Thats when I rolled up my sleeves and got to work:Coordinating Repairs: I connected them with a reliable contractor to reinstall the five missing fence panels and repaint the porch floor, giving the home an instant boost in curb appeal.Tackling Details: Once the house was empty, we brought in a professional cleaning team to refresh the interior. I even climbed a ladder myself to replace all the light bulbs with consistent, warm tones.Managing the Timeline: The family was able to move north and settle in before Christmas, leaving me to handle the sale of their home.A Holiday WinThe house was listed on Christmas Eve, and the response was immediate. At the first Open House, we received a cash offer, and by New Years Eve, the home was under contract. The couples dream of reuniting with their family became a realityquickly, seamlessly, and with minimal stress.Lets Make Your Story a SuccessDo you have a situation like this in your world? Whether youre helping a loved one transition or your own big move, Im here to provide the professional real estate guidance and TLC you need. From prepping a home to ensuring it sells for top dollar, quickly and efficiently, Ill be by your side every step of the way.Call me today, and lets talk about how we can make your real estate journey as smooth and successful as possible.
Alder Terrace Gardens is a welcoming and nurturing environment for seniors who value their independence but may need some assistance with daily activities. The focus on creating a home-like atmosphere is wonderful, as it helps residents feel comfortable and at ease in their surroundings. Providing home-cooked meals adds an extra touch of warmth and familiarity, while the weekly entertainment and Wellness and Mobility Center offer opportunities for socialization and physical well-being. It's clear that Alder Terrace Gardens is committed to not only meeting the needs of their residents but also enriching their lives with meaningful experiences and a strong sense of community. The location amidst serene surroundings offers a peaceful environment conducive to well-being. The variety of room options ensures that residents can find the accommodation that suits their preferences and needs.The provision of three chef-prepared meals a day, along with snacks and catered holiday events, reflects a commitment to providing nutritious and enjoyable dining experiences. The on-site Wellness & Mobility center further enhances residents' quality of life by focusing on preventative strength building, stretching, and appropriate exercise. This personalized approach to fitness promotes overall health and vitality.Most importantly, the promise to exceed expectations and prioritize the well-being of residents underscores the dedication of Alder Terrace Gardens to providing exceptional care and support. Families can trust that their loved ones will be nurtured and cherished in this welcoming community.