Are you worried about making sense of your parents’ debt as they age? You’re not alone.
The Difficulties of Our Parents’ Debt
an article by William Power
as posted on the Wall Street Journal online March 27, 2016
When my in-laws became too incapacitated to handle their own affairs, my wife and I took over. A year and a half later, we’re still trying to figure it all out.
“No, no, no, don’t transfer me to her again,” pleads my wife.
It is a typically frustrating moment in our family crisis, one that many grown children will have to face, ready or not: We are people in our 50s who are unraveling the finances of parents who can no longer do it themselves. [Your parents’ debt may be more than they can handle alone. -ed]
My wife, Julie, is on the phone with the company where her 82-year-old dad had once worked, trying to change the direct deposit of his pension checks to a bank closer to the assisted-living home where he and his wife now live, which is near us in Pennsylvania.