Podcast Episode 24: How to Manage Your Aging Parent’s Finances

by Financial Design Studio, Inc. / August 21, 2023

Finances and family can be complicated. What happens when you need to step in to manage your aging parent’s finances on top of yours? In this episode, we discuss how we help clients work through the emotions, paperwork, and estate planning.

Experienced Fiduciary Fee Only Financial Advisors and Planners in Deer Park
Trevore Meyer, CFP®; Michelle Smalenberger, CFP®

Behind the Designs Ep. 24 : How to Manage Your Aging Parent’s Finances

Take a listen right here, or head over to your favorite steaming platform!

Key Moments

3:37 Why is this issue becoming more common?

8:49 How do you address the internal conflict?

14:14 How do you navigate this issue with other family members?

21:51 How do we as financial advisors walk clients through this?

24:00 What does the inheritance process look like?

Links for How to Manage Your Aging Parent’s Finances

What are the Latest Rules for Inherited IRAs?

Inherited IRA Distributions: Pre SECURE Act

Inherited IRA Distributions: Post SECURE Act

Learn more about SECURE Act 2.0 here!

Learn more about the process of Consolidating Retirement Accounts.

Watch this video on Creating and Funding Estate Plans to understand you next steps.

See how we as financial advisors work with our clients on their Legacy and Estate Planning.

Stay Connected!

If you want to hear even more episodes, like this one, be sure to subscribe to the Behind the Designs podcast on your favorite streaming platform! The Behind the Designs podcast shares with you an inside perspective at how financial advisors think about certain topics. We’ll see you in the next episode.

Credits for Episode 24

Executive Producer : Anna Lewis

Host : Michelle Smalenberger, CFP®

Guests : Trevore Meyer, CFP®

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