Financial Services

A colleague called me because his client was having a problem. His wife was suffering from Alzheimer's disease and he was providing care for her at home. My colleague is a financial advisor and is intimately involved with the family and their finances but didn't have the skills or knowledge of how to help him with his current situation. Fortunately, he knew that I, as a Daily Money Manager, did. His client was already working with an elder law attorney to begin the process of restructuring assets and applying to Medicaid. The client needed someone to talk through issues with and to help him make decisions. As I've said before, during these periods of stress and heightened emotions, seeking out the help of an objective professional to come up with practical solutions is warranted.

Our client was faced with a situation where he could no longer care for his ailing wife and he knew that a memory care facility was on the horizon. We knew that his wife would be fully covered by Medicare for a period of time but we also knew that there were ultimately going to be insurance copays and many facilities require some "private pay" money prior to receiving Medicaid. I acted as the go-between for the attorney, the financial advisor and the facility. The attorney needed to know which facility we were considering and what their financial requirements are and the financial advisor needed to know the monthly income requirements to be generated from investments and how much short term cash was needed on hand. 


Here again, we are pieces of the "care puzzle" to ensure that nothing falls through the cracks and that our clients are protected.

Many Daily Money Managers have experience in financial services. I was a financial advisor for 20 years before I decided to start Daily Navigator. Daily Money Managers will work with a family’s financial advisor to determine their monetary needs. This could include providing the financial advisor with a budget and cash flow analysis to identify and resolve financial requirements and/or deficits. A Daily Money Manager will work with the Financial Advisor and Eldercare attorney with regard to asset restructuring to satisfy the requirements of the estate plan and to ensure that we meet Medicaid financial requirements. A Daily Money Manager will also facilitate, gather and organize records for a CPA to prepare year end tax documents.

Contact Us

Contact Us

Share by: