It is a matter of time before you may have to add managing your elderly parents’ finances to your list of money responsibilities. It is not so much about your finding the time and energy to take on the additional responsibility, as it is about it being acceptable to your parents to accept that they need help and give up control over their finances.
Don’t wait for a crisis to happen before you get involved to protect them from losing their hard-earned money to a scam or merely poor management. It is better to initiate the conversation as early as you can. The trick is to be able to do it without making them feel incompetent or treading on toes.
