- Fix emergency tax and trust situations
- Maintain security and privacy
- Safeguard against financial abuse
Fix Emergency Tax and Trust Situations
Often a Trust is created and then put on a shelf to gather dust. The documents are not updated, and necessary information is difficult to find. This contributes to a stressful application of the trust instructions.
When it is time for the trust to be executed, the designated trustee is often overwhelmed with necessary tasks at a time when they are grief stricken and facing lifestyle changes.
The execution of a trust can be complicated in blended family situations or when the documents have not be updated. Accurate separation and organization of personal and trust financial records ensures a confident and sound execution with out added stress during a difficult time.
Bridge Senior Financial Services can step in and help you manage your responsibilities as trustee by guiding you through the requirements step by step.
Avoid Family Conflicts
In today’s world, families are complicated. There are blended families, second marriages, prenuptial agreements and divorce agreements. There are sibling rivalries and there is substance abuse. There are those who have gained financial independence and those who have not.
All of these factors can create an unpleasant and confusing environment when dealing with an aging parent or loved one. Bridge Senior Financial Services can step in and help you eliminate unhealthy family dynamics by offering an independent professional approach to handling the family finances.
By having a licensed professional navigate the finances you can avoid the suspicion, finger-pointing and potential abuse situations before they begin.
Maintain Security and Privacy
Many seniors desire to continue to live as independently as possible for as long as possible and this includes keeping their families out of their financial business.
As they age, they do require additional help – in personal caregiving and in the areas of driving, cleaning and meal preparation. This creates an environment where multiple people are in and out of the home – and they frequently request to be paid in cash, which is never recommended.
Bridge Senior Financial Services, through account review and reconciliation, creates a system of reviewing the transaction activities of the senior and will question unusual activity immediately. This creates an environment where the senior can continue to function independently, but has the security of knowing that someone is reviewing their balances and accounts regularly.
Safeguard against Financial Abuse
It is an unfortunate reality that in today’s world, seniors are often the target of financial abuse. This type of abuse can occur through the mail, on the phone, through the internet, in person and through television advertising.
Television, mail and phone purchases often include “expensive hidden monthly subscriptions” that are difficult for a senior to cancel due to the complex navigation required.
Bridge Senior Financial Services is also available to meet with plumbers, electricians and other trade personnel to ensure that work being done is appropriate both in scope and price before any commitments are made – and that any payments are made only ONCE.
Bridge Senior Financial Services provides a “personal” accountant and creates a filter for many types of abuse. Once the abuser realizes that there is a competent professional representing the senior, they will quickly move on from their “easy target”.
I recommend that all my clients simply respond to any inquiry or sales pitch with the following statement: “I have a personal accountant who is a CPA and I handle all of my financial transactions through her. Would you like her number?”
"Cynthia has continued to guide me in a very professional and caring way. I doubt very much if I could have survived that terrible time without her expertise and great concern for my welfare."
"Life has gotten much easier since I have had Cindy Palm take care of my finances...she has led me into the new world of electronic bill paying. Who knew that it could be so efficient and quick?"
—Mary Ellen Richmond Bradford