Most parents rely on their children for help to manage their affairs as they grow older. Caring for your parents can be challenging- mine are retired and live in India, and they are now beginning to need help with important tasks like:
- Managing the bill payments for both the homes they own
- Keeping their estate plan current, including:
o A healthcare proxy to name someone to make medical decisions for them
o A durable power of attorney to allow me and my sister to help with their finances
Having the above to-do list will help us handle and identify situations before they arise and assure my parents that they will be looked after and that their wishes are carried out as intended.
During my next visit back home, I have planned to discuss these points with my parents. Honestly, during my short time with them, this will be a difficult topic to bring up and then complete, as all these services are not available under one roof in India.
At White Oaks we offer a Family Office and other services, all in one place that can help in situations similar to mine. Our White Oaks team becomes your family’s indispensable partner and gives you back time and the peace of mind that your parents are being looked after well.
With these burdens lifted, your parents can enjoy their retirement and do things they enjoy. We work with you and your family一 to keep you informed, no matter which part of the world you live in.
Meryl Roberts is a Financial Administrator at White Oaks. She assists in client and small business bookkeeping, executes accounts payable and receivables for small businesses, generates client financial reports and provides related administrative support.