Elderly Bill Paying Services

Too often the day to day finances of older people become a source of problems and worries for both the family and their loved ones. Families often live far from a grandparent or parent and try to help them from afar. Now with the assistance of Accent on Elder Law’s team of caring professionals this process can be simplified and provided with accuracy, accountability and most importantly with dignity.

Our team is comprised of Elder Care professionals with knowledge in financial services, Elder Law, Elder Care, estate planning and insurance. Each family is assigned a point of contact that manages the entire process. The following is an overview of Accent’s Personal Financial Services.

Financial services are available for clients and their families providing a safe, accurate and accountable management of month to month finances. This offering includes all or some of the following:

This will benefit the client because they don’t have to worry about the responsibility of actually paying bills. Bill paying would include:

• Receiving individual’s monthly bills,
• Paying bills either through Quicken online or the individual’s online banking,
• Auditing bills for overpayments or incorrect/unusual charges.
• Reporting available at any time of what has been paid to whom and when.

Financial reporting would involve creating reports on demand that would show the individuals cash inflows, cash outflows and monthly net. We will also be able to report on the details of the monthly expenditures – how much on utilities, how much on rent, etc. In addition, at year end, tax preparation should be simpler as reports can be generated that show all charitable contributions, income, medical expenses. Reporting can be done for the individual client as well as the client’s family as required.

Account reconciliation would involve doing the bank reconciliations for the individual’s accounts and providing the individual with a detailed copy of the bank reconciliation. We will also monitor multiple accounts and facilitate movement from one account to another as needed by the client. This will give them a sense of relief knowing that everything is in order and properly accounted for.

Once the bills are paid how much is left over for discretionary spending? Budget development and monitoring will help the individuals have a better grasp of how much disposable income they have each month. Knowing approximately how much money they are taking in and paying out each month, shows the client and family how to budget what they can afford in the future, as well as they may be able to identify places where they could cut costs.