Managing my parents day to day bill paying?

Question

My parents are heading toward assisting living. The already have their investments managed by a wealth management firm. However my dad has spoken to me about taking on seeing to it that their bills are paid, arrangements made with utility companies, etc. Is that something that would be handled by assisted living? Or how else, unless I were to do this myself?

They are largely but not completely able to take care of themselves, but as they are in their mid-80's, myst sister and I are trying to get them on an assisted living wait list. I live about an hour away.

Answer 1

How good of you to help your parents out in their time of need. Now for utility and bill payments, you can simply set those up on automatic withdrawal. Just make sure there's enough cash available in their bank account(s) and it it will be taken care of each month.

If you really want to do it yourself, you can go on-line and pay each bill eletronically. However, you'll have to make sure you keep up with each of them each month...don't miss any.

If your parents are willing and capable they can have the bank give you a bank card, so you can access the account. Or even better if you have power of attorney so you can help manage their banking on their behalf.

Answer 2

best way is to contact every one they will have monthly  bill with have the address changed to you addressed -- the ones than can automatically be taken out of the checking account i,e,  utilities go for it and the rest you will have to write a check -- remember you will have to be sign the signature card at the bank!!!