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Four things caregivers should do to manage a loved one’s finances.

Financial inventory

Create a list of bank assets, retirement assets and debts.

Personal inventory

Gather information on where to find records, contact information for important people or services, how to gain access to various accounts.

Estate management

Discuss estate planning using a trust or will to protect the person and designate assets.

Create a care budget

Understanding and managing finances is critical for all caregivers and loved ones.

Other considerations

Financial power of attorney

This document legally allows caregivers to make financial decisions on behalf of loved ones.

Bill management services

These platforms organize account information and coordinate payments.

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