Social Security payments
If your parent can't manage their Social Security or SSI payments, Social Security can appoint a representative payee to manage the payments for them. Social Security says it generally looks for family or friends to serve as payees. Call 1-800-772-1213 (TTY 1-800-325-0778). (SSA: Representative payee)
Power of attorney and other roles
- A durable power of attorney for finances names someone to make financial decisions when your parent is unable to. (NIA: Getting your affairs in order)
- If you've been named in a power of attorney, appointed by a court or made a trustee, the CFPB has free guides on what that role involves. (CFPB: Managing someone else's money)
Make a simple list
Write down where the money comes from and where it goes: income, accounts (the bank's name and phone number, not passwords), monthly bills and autopays. The Parent Crisis Binder has pages for all of this.
If you suspect a scam
The National Elder Fraud Hotline helps with fraud against anyone 60 or older: 1-833-372-8311 (833-FRAUD-11), Monday to Friday, 10 a.m. to 6 p.m. ET. (Office for Victims of Crime: Elder Fraud Hotline)