These are good questions to be asking.
You can automate most of it, but you still need someone to monitor for fraud or mistakes.
The Medicare Part B can be set to automatically pull from a bank account. We have paid ours with a credit card for the cash back and the Medicare auto draft only does bank drafts, but the ~2% saved using a CC isn’t worth the complexity for someone whose capacity is diminishing.
But there are things like property taxes that cannot, at least in our jurisdictions, be automated and MUST be paid.
I handled this for for my parents and in-laws. The transition was gradual, but over a few years I went from offering some advice and following up on important payments, to handling the payments myself.
There are many good people in the world but there are also many scoundrels, so you need to be very careful about the selection. If there is know trusted relative, then you will need a professional and it won’t be cheap. But it will be cheaper than dealing with late or missed payments.
You can automate most of it, but you still need someone to monitor for fraud or mistakes.
The Medicare Part B can be set to automatically pull from a bank account. We have paid ours with a credit card for the cash back and the Medicare auto draft only does bank drafts, but the ~2% saved using a CC isn’t worth the complexity for someone whose capacity is diminishing.
But there are things like property taxes that cannot, at least in our jurisdictions, be automated and MUST be paid.
I handled this for for my parents and in-laws. The transition was gradual, but over a few years I went from offering some advice and following up on important payments, to handling the payments myself.
There are many good people in the world but there are also many scoundrels, so you need to be very careful about the selection. If there is know trusted relative, then you will need a professional and it won’t be cheap. But it will be cheaper than dealing with late or missed payments.
Statistics: Posted by CuriousGeorgeTx — Wed Jul 24, 2024 1:37 pm — Replies 9 — Views 402
