Children Caring for Elderly Parent
Situation: A brother and sister’s elderly father is no longer able to care for himself and requires assisted living, and they are concerned that he does not have the income to support this. He has significant assets, including real estate holdings, but they are scattered among many accounts and different types of investments.
Strategy: We could refer them to capable professionals – estate attorney, CPA, real estate agent – who can help them understand their father’s circumstances and take appropriate actions. We could consolidate his assets and build a diversified, properly balanced portfolio to provide for his monthly cash flow needs.