I have to confess I loved the alliteration of the title, but this post is actually about fiscal fitness for the cared-for person — a parent, grandparent, spouse, even sibling. It’s not easy, and in many cases not a welcome responsibility, but it’s one that can keep a loved from financial disaster if accomplished with attention, knowledge and care — usually and most effectively in collaboration with others. The ‘collaboration with others’ piece is not just to alleviate stress and burden on the person who becomes financial manager for a loved one who is no longer able to manage on their own — or at all. It is also a protection for the manager.
Having other people who see how decisions are being made in conjunction with available resources helps to prevent unfounded accusations of mismanagement. Additionally, having other people in the loop can help spread the research load — is there a resource for day-care that won’t bankrupt the loved-one that the primary manager didn’t know about? Are there people in the community who help with financial planning at low- or no-cost? Others may have great ideas and knowledge that will make the job simpler. Once supplied with additional information, the point person/manager may make better financial decisions on behalf of the loved one. Of course, he or she needs to have the proper paperwork in place (OK Now What? A Caregiver’s Guide to What Matters, available at amazon.com, includes a list of needed documents).
As a starting point for fiscal fitness, the article (link below) offers a quick view of what you need to consider to help you help your loved one.
caregiver.com
Published by Nancy Taylor Robson
I grew up sailing and building boats with my dad, married a tugboat captain, (who I'm still happily married to) and embarked on a life of adventure, challenge and fun. My first book, Woman in the Wheelhouse, told the sometimes harrowing story of working on an old coastal tugboat as cook/deckhand then worked in Mexico in the Campeche oil fields on a supply boat. I was one of the first women in the country to earn a tug operator's license. I'm the author of three other books, Course of the Waterman, which won the Fred Bonnie Prize for the novel, the historical novel, A Love Like No Other: Abigail and John Adams, A Modern Love Story, and OK Now What? A Caregiver's Guide to What Matters, which I wrote with longtime RN and hospice nurse, Sue Collins during the time my mother-in-law was moving to the end of her life.
My second, Course of the Waterman, the coming of age novel of a young Eastern Shore waterman, won the Fred Bonnie award in 2004. My third book, second novel, A Love Like No Other: Abigail and John Adams, A Modern Love Story, takes readers into the lives of the new nation's strong-willed second First Lady and her stubborn, often-absent and adored husband, John, our second US President. I wrote the book because I'd spent big chunks of time raising children alone while my husband was at sea and felt an affinity for Abigail, but also looked to her life as a MUCH bigger challenge that informed and encouraged my own. My fourth book, OK Now What? A Caregiver's Guide to What Matters (Head to Wind Publishing, 2014) was written in collaboration with Sue Collins, RN and longtime hospice nurse and has received heartwarming feedback on how helpful it's been to many caregivers.
A freelance writer for many years, I've published personal essays, features, maritime reporting and analysis, travel, garden and more for such places as The Washington Post, Yachting, House Beautiful, The Baltimore Sun, the Christian Science Monitor, Southern Living, Sailing, and more. I'm also a University of Maryland Master Gardener who grows and cans the family's fruits and vegetables, and a Bay-Wise program certifier. I write, sail, race sailboats (occasionally), walk the German Shepherd dogs, and cook for friends and family.
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Nancy Taylor Robson 
I was fortunate to have a father who had all his finances in good order so that when it came time for me to take over for him the transition was smooth.
Do you remember me staying with my grandparents across the street from you on Pickwick Road?
I do. How are you?
Still alive and well! You? Chris?
ditto both of us