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Practical Money Matters Radio Series

April 23, 2012
This Mother's Day, Help Mom Get Organized


Help your mom organize her financial, legal and medical records to help ensure she is covered today and in the long run.

Transcript

If you're struggling with how to honor your mom in a meaningful way, why not offer to help organize her financial, legal and medical records, so you both know where she stands?

  • Gather annual statements from Social Security, pensions, IRA and 401(k) plans, bank accounts, and stocks and bonds she owns.
  • Collect statements for any loans, credit cards, medical bills and other outstanding debts.
  • Make sure legal documents that outline her wishes after becoming incapacitated or dying are still accurate; including her will, durable power of attorney and health care proxy.
  • Update contact information for her doctors, lawyer, pharmacy, bank and insurance company.

Bottom line: It's not as much fun as brunch, but the benefits will last longer.


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