Financial investigator?
Hey Terry, my dad is currently 91 years old and is beginning to have some medical problems. Sometimes he is forgetful and he cannot remember all of his retirement accounts. Is there somebody out there who does some type of work to investigate, if somebody has outstanding IRAs, retirement accounts, stocks, or other types of financial holdings?
Terry Says
I think YOU are elected to this job! First of all, does your Dad have a will or estate plan? And do you have a power of attorney for his financial affairs, as well as his healthcare. That’s the first step. And you should not postpone this, because you cannot do these things once there is an emergency.
You need an estate planning attorney for the will, and financial POA. But your local hospital can give you the healthcare POA forms. If you don’t have an attorney, ask at your local bank office.
Now, back to your original question. You should have started this in January, when all payors send out 1099 forms. It will be up to you to intercept all his mail from now on, and make sure you are receiving monthly statements of his accounts. Ifyou get ANYTHING from a financial firm, you need to check it out to see if htere are assets. YOU will have to be the detective on this.
Here is a link to my Personal Financial Organizer form, always at the top of my website, which should be helpful to you in getting things organized:
https://www.terrysavage.com/wp-content/uploads/2023/03/Personal-Financial-Inventory.pdf
