When You May Need to Hire a Daily Money Manager
By Kathy Swann

Michelle has been trying to call her mother, who lives in another state, but gets a message that the line has been disconnected. She later finds out the phone has been turned off due to non-payment. Michelle calls her mother's neighbor to check in on her and make sure she's all right.

Allison's mother has been ill and needs nursing help for part of the day. On her next visit, Allison notices that the mail has been piling up and not been opened. As she looks through some of the bank statements, she notices several overdraft charges, along with checks made out to people Allison doesn't know. She worries that something is very wrong, as her mother used to stay on top of all her financial affairs.

Martin's recently widowed mother is at a loss at how to handle the checkbook and pay the monthly bills. After all, she never had to worry about it since her husband took care of all their financial matters. She needs help getting her bills paid on time and balancing the checkbook each month.

All of these people could use the assistance of a Daily Money Manager, or DMM. Some of the services a DMM provides are:

• Balancing the checkbook
• Paying bills
• Organizing tax records
• Managing insurance claims

A DMM does not take the place of an accountant or attorney, and does not offer legal, tax or investment advice. However, they will work with the client's CPA or attorney to ensure that the client's personal financial matters are attended to.

And, because the DMM visits the client once or twice a month, other family members can be assured that their aging relative's financial affairs are being taken care of on a timely basis.

If you have an aging parent or relative that needs help with their paperwork, consider hiring a Daily Money Manager. This can save you time, and also give you peace of mind knowing someone is looking after your elderly family members.

©2008 Kathy Swann

Kathy Swann has over 25 years experience in office management, payroll and Human Resources and also works as a consultant for several small businesses. She is the author of the "How to Win" series of e-books available at http://www.SuncatcherPress.com

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