Elliott Appel, a financial planner in Madison, Wis., and the founder of Kindness Financial Planning, helps families, often caregivers, navigate shifting roles and responsibilities.
An introduction lets him know whom to reach out to in case of trouble.
“Then it becomes: First let’s acknowledge that this is going to be a challenging conversation, because most people don’t want to give up control of their money,” Mr. Appel said.
Once that hurdle is cleared, a talk about designating a trusted contact, or someone who will eventually take over, can take shape.
In some cases, the trusted contact can start with a few tasks, then take on more responsibilities as time goes on, he said.
Persons:
Elliott Appel, ”, ” Mr, Appel
Organizations:
American Medical
Locations:
Madison, Wis