Motley Fool Money Before the Crisis: How You and Your Relatives Can Prepare for Financial Caregiving
12 snips
Dec 6, 2025 
Beth Pinsker, a Certified Financial Planner and MarketWatch columnist, dives into the complexities of financial caregiving. She shares her own experience as a caregiver and the vital need for families to create a financial roadmap. Beth emphasizes the creation of a 'death file' to organize essential documents, discusses the crucial role of a durable power of attorney, and compares healthcare proxies to living wills. Her heartfelt message highlights that preparing finances is truly an act of love, easing the burden during challenging times.
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Scavenging Through A Parent's Papers
- Beth Pinsker had to reverse-engineer her mother's finances after surgery and incapacity.
- She spent weeks fumbling through papers to keep bills paid and accounts managed.
When One Person Holds All Money Knowledge
- A family faced cut utilities and mortgage problems when the sole financial manager became sick.
- The spouse couldn't prevent service shutoffs because the husband kept everything 'in his head.'
Assemble A Clear Death File
- Create a clearly labeled death file (digital or physical) with IDs, insurance, and key documents.
- Make it easy for relatives to find vital papers by using obvious folder names or a single desktop file.
