When Is the Right Time to Take Over Your Elderly Parents' Finances?
There's a certain irony in the parent/child relationship. When you're a helpless baby, you're dependent on your parents to do everything for you. As you get older, it becomes their job to teach you to become independent from them until you're ultimately on your own (and might even become a parent yourself).
Then comes that ironic moment when you have a total role reversal: You might need to help them take care of themselves -- until they reach a stage when they're totally dependent on you.
This is especially true when it comes to finances. Even if your parents have all their faculties, handling money and investments on a day-to-day basis may eventually become overwhelming. And if you wait until that moment occurs, it could be too late to help them out.
Source Fool.com
