November 21, 2009



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Cartoons: Roz Chast

Warning Signs of Financial Problems

By Michelle Andrews




You may feel you need clear signs of a potential problem before getting involved in your parents' financial matters. Here are a few to consider:

  • Have you noticed any lifestyle changes? Has your movie-buff Dad suddenly stopped going to the movies? If so, maybe it's because he feels he can't afford that kind of spending anymore.
  • Questionable use of retirement funds? Have your parents dipped into their savings for unnecessary big-ticket items?
  • Trouble paying bills? Has the phone or electricity been cut off, even briefly, recently?
  • Are your parents taking care of themselves? Is your mom not buying a new pair of glasses, even though it's clear she's having trouble reading? Does the refrigerator seem bare when you visit?
  • Is there a new love interest on the scene? It's OK to take an active interest in your parent's romantic life. A new love could be a blessing—or it could not, depending on how it affects a parent's thinking on the subject of his or her will.