I recently met with a family friend in Glendale who is now in her eighties.  While we were catching up, the conversation turned to how my friend could use a little assistance with managing her financial affairs.  I was reminded that sometimes people need assistance with finances, not because they are incapacitated or unable to do so themselves, but because it can be overwhelming.  In the case of my friend, she is looking for assistance with bill paying.

There are several options for this situation where the individual can have assistance without giving up control of his or her financial affairs.  One option is utilizing the automatic bill pay system that several companies offer.  In the case of my family friend, she could set up her Glendale facility bill to be on automatic bill pay as well as her phone and cable bills.  This would relieve some of the burden of paying bills.  The biggest hurdle with this option is that not everyone is comfortable with automatic bill paying.  My husband and I still write monthly checks for all of our bills even though the majority of them offer automatic bill payment.

Another option is utilizing a private fiduciary.  A private fiduciary is a licensed and bonded individual whose job is to assist individuals with their financial affairs.  They are able to take on the role of bill paying as well as many other functions.  For my friend, this is the best option.  She does not like the idea that bills would be paid without someone first reviewing them for accuracy.  She can use a private fiduciary to reduce her monthly responsibilities and will receive reports on how she is doing financially.  If you are interested in learning more about what a private fiduciary can do to assist you or a loved one, please contact Life Care Consultants.

Contributed by MH attorney and partner Katherine A. O’Connell 

Why Choose Morris Hall:
You have a number of options when it comes to estate planning, so why pick Morris Hall?  First off, estate planning and asset protection are a very complicated endeavor and you should only trust someone who focuses exclusively on those matters.  Also, MH is a proud member of The American Academy of Estate Planning Attorneys (AAEPA) which provides us additional support, advanced training, tools and information that is not available to others – which means that we can better protect your assets and your loved ones.  We are one of only two firms in Arizona that belong to the AAEPA and are the only firm in New Mexico that has been granted membership.  If you have assets and loved ones that you want to protect, you are in good hands with MH.  Contact us today at 888.222.1328 to schedule an appointment!

This blog should be used for informational purposes only.  It does not create an attorney-client relationship with any reader and should not be construed as legal advice.  If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.