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Eldercare Financial Services

We provide the complete financial care and oversight of elderly clients.   Our services are offered directly to the elderly client themselves, or we can be retained by relatives of the elderly client who are looking out for their parents or loved one’s best financial interest. We provide an elder client with assistance for their daily financial affairs, business and related duties.  
 

Review & payment of household bills, budgeting, record keeping

  • We will collect all monthly bills and ascertain their validity and accuracy.  
  • We handle day-to-day financial transactions such as home repairs, routine maintenance, and emergency medical expenses
  • We organize and review personal, financial, and legal documents to determine what needs to be addressed
  • We will review receipts for prescriptions and other medical expenses and prepare the necessary forms for reimbursements and follow up on their payment.

Assistance with check writing, online banking, checkbook balancing

  • Write and mail checks for payments in a timely manner, and alternatively make electronic payments wherever possible.  
  • Deliver all checks and disbursements for payment to the client or family member as designated and approved by the client for signature.
  • All disbursements made will be subject to the approval and other accounting controls established by our firm, and rely on the accuracy and reliability of information provided to make all disbursements.
  • Retirement account distributions will be planned and safeguarded against improper disbursements.

Make sure money is received, receipted, & properly & timely deposited

  • A regular review of the income that the client is supposed to receive will be made to verify that it is received or deposited timely.

Monitor & track client’s total financial portfolio including cash, investments & real estate

  • Bank reconciliations will be prepared every month for all client bank accounts.
  • All brokerage and fund accounts will be reconciled every month.
  • An inventory of all personal assets and investment portfolio will be prepared and continuously monitored with the client’s investment advisor.
  • We will discuss with the client the types of investment alternatives as funds become available. We will provide suggestions but will not make any direct decisions, nor will we have signatory power over any investment accounts.
  • An analysis will be conducted of the client’s current and long-term cash flow needs by analyzing income and expenses.  Retirement income, needs, and goals will be identified and planned.
  • We will address questions about lifestyle, Social Security, pensions, Medicare, and long-term insurance with the client.

Preparation & filing of income, trust, gift & estate tax returns & any needed related planning

  • We will prepare whatever information is needed to prepare the client’s tax return.  Our company offers income, trust, gift and estate tax return preparation services for all of our clients.
  • We will calculate and pay all client quarterly estimated tax payments if applicable.

     









Authorized IRS e-File Provider



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