Who Will Pay Your Bills?

Article submitted by Gina Pirrone of GCP Financial.
For more information, she can be reached at 201-251-6651, or visit her website: www.gcpfinancial.com.

Daily Money Management is relatively a new service, which addresses an issue facing many senior citizens: handling paperwork that never seems to end. Seniors frequently become overwhelmed with the amount of bills, investment, or medical statements and other mail they accumulate in a short period of time. Insurance and medical statements are often confusing or even contradictory. This leads to frustration and anxiety on the part of the senior. It is essential for seniors and their families to know that bills are paid along with appropriate allocation of assets and income. In addition, organizing paperwork required for income tax preparation, medical documentation and charitable contributions often means lower income tax payments each year.

Since Daily Money Managers (DMMs) often work with elderly persons living in their homes, the DMM can provide recommendations to their senior-serving professionals as needed. If they see that a client is in any way "at risk" due to impaired vision, physical limitations, or confusion, the DMM can make referrals to community resources, including geriatric care managers, attorneys, and accountants. However, DMMs do not take the place of these professionals. In many cases, DMMs work closely with them in seeing that their mutual clients receive the attention and service they need. The record keeping done by DMMs is often invaluable to the accountant at tax time, to the attorney in planning for long-term care costs, and to the care manager in evaluating costs of community resources to meet current needs.

A Daily Money Manager can help if you are:

• Feeling overwhelmed with personal financial statements and other accumulating mail.
• Paying medical bills you do not need to pay
• Balancing your checkbook
• Missing payments of bills