Caring for aging parents is one of the hardest things you will ever do but a financial planner can help you get prepared to handle life-changing events and provide support when you need it. At Alloy Wealth Management, we think beyond assets and income when focusing on what a client needs to handle the expected and unexpected events that can transpire during a lifetime. When you first meet with us, we’ll ask a series of personal and financial questions and delve into life’s many “what ifs”.
To make estate plan recommendations, we need to consider the possibility of job loss, divorce, injury, or illness, etc. We need to know about lifestyle and retirement goals, and health and family history to suggest insurance policies that can provide income in retirement. To understand how much responsibility you will have as a caregiver to your parents when they cannot care for themselves, we will need to know if they have an estate plan or long-term care insurance. Have they saved throughout their lifetime? Or will you need to pay their mortgage and utilities and provide or pay for their care as well.
With this information gathered, we can create your estate plan and recommend investment changes that can help you reach your retirement goals and secure funds to care for loved ones. After you’ve had a heart to heart with your parent or parents and understand their wishes, call 800-689-3935 to speak with one of our fiduciary financial planners. We want to be a partner in your financial future.