📋 What to Know About Managing a Loved One's Money (AARP Article)

[Winter2025VA]

FROM THE ARTICLE.

5 Things I Learned From Managing My Mother’s Money.
Author describes how to ease the frustrations of taking over a parent’s finances.

By Beth Pinsker, AARP. Published October 02, 2025.

As her mom’s financial caregiver and estate planner, Beth Pinsker flew about 20,000 miles (10 round trips from Brooklyn, New York, to Florida), spent hundreds of hours on the phone sorting out money issues and even more time filling out forms. Three years after she took on this challenge, and two years since her mom died, she still deals with unfinished paperwork. Pinsker wrote a book based on her experiences, with added research and conversations with experts, called My Mother’s Money.

USE LINK BELOW TO READ THE ARTICLE.

https://www.aarp.org/caregiving/financial-legal/caregiver-manage-finances/

[GailL1 · Accepted solution]

Good Article 

One thing that has produced a rather complicated procedure for me is that each bank and financial institution wants a POA designation on their OWN form.  It is possible to handle things without it but it is so much more complicated that way.  

[Winter2025VA]

[10/3/25]

Any thoughts on this article/topic?  🤔

I am glad I sat down with an attorney at my local LOA office back in 2020 when I retired. It was free and he did an EXCELLENT job. Grateful!

Then last Monday, I learnt something NEW about the "Power Of Attorney" while meeting with the Funeral Home here in Virginia (my daughter from Florida & myself - set up Preplanned Cremation that can be transferred to Florida as needed).

It is ONLY "valid" while we are alive.  😱

Anyway, I am now wiser at age 67.

Take care,

Nicole (Friends & Family Forum)