Frequently Asked Questions

A professional who deals with the daily administrative and financial tasks for those not able to perform them on their own or those who prefer not to take on the role themselves.

Yes.  As members of AADMM (American Association of Daily Money Managers), we follow the association’s Standards of Practice and adhere to its strict Code of Ethics.

Founded in 1998, it is a national membership organization representing over 700 individuals & businesses in the growing profession of daily money management.   It provides professional development and accreditation to members.

I started doing work, as a financial caregiver to my mother in 2012. I started my company in 2018.

Lioyd's of London provides:

   Professional Liability

   Errors & Omissions

   Endorsements to insurance can be added as needed

Yes. We can provide personal references as well as business references.

We will deal with the daily administrative and financial affairs, so you don't have to. This means more quality time with your loved ones. The real benefit to you is that your stress will go down.

• Open and organize mail
• Pay bills, set up auto bill pay with your financial institution
• Reconcile accounts
• Manage/Make Deposits, prepare checks for signing
• Provide income/expense tracking
• Provide accurate financial records and reports
• Manage/monitor insurance claims and EOB's (Health, LTC, Medicare, etc.) and communicate with insurance companies on your behalf
• Negotiating with creditors and vendors 
• Organize tax information
• Communication with the IRS on your behalf 
• Interface with other care professionals (Financial, accountants, lawyers, insurance agents, geriatric care managers)
• Phase-of-Life planning
• Trustee Services
• End of Life administrative services
• Facility Placement
• Special projects on request

Yes!  We are experienced in locating subacute/long-term care facilities to meet your specific needs, and to assist you with preparing the necessary documentation for Admissions.

We will handle all daily administrative and financial tasks from receiving the bills and statements to processing payments, reconciling accounts and coordinating with your other care professionals (Eldercare Attorney, Financial Advisor, CPA, etc.), to managing creditor and vendor relationships as well as managing all of the paper.

Yes.  At the request of our clients, we frequently work with accountants, financial advisors, estate attorneys, elder law attorneys, geriatric care managers, and insurance agents. In certain situations, we will refer you to the right professional for your particular circumstance.

Yes.

We track all your income and expenses so that you do not have to do this any more. We will provide you reports to you on an agreed upon basis.  We like to do the work in our office.  This frees up your time and helps us be more efficient.  So when we meet at your home we can focus on the “bigger picture”, answering questions, talking about special projects or requirements that you may have.

We will do it for you and provide you the information. This way we can monitor the inflows and outflows and look for ways to reduce your expenses.

We will monitor and review your statements. Investment recommendations and performance of your investments is a conversation between you and your financial advisor and with 20+ years in the financial industry, we can assist you by providing an objective opinion and can help guide you in your decisions.  In addition, as part of tax organization and preparation, we make sure that the appropriate documents are furnished to your accountant in a timely manner. 

Our initial assessment is free.

After our initial consultation, clients are billed on an hourly basis (This could include but is not limited to, gathering of documents, travel, telephone calls to service providers, data entry).

We believe open communication is essential to a successful relationship and therefore do not bill for telephone calls to and from our clients.

If you prefer being billed a monthly fee-for-service, we will estimate your fee based upon the complexity of the work.

Initially, we like to come to your location to discuss your needs, requirements, requests, etc. Much of the work can be done virtually or via telephone.  You will ultimately determine the frequency.

Yes, absolutely. Keeping the lines of communication open is extremely important. We can do it by phone, email, Zoom, FaceTime, Google Meets and in person.

Following a fact finding discussion which will allow us to understand your current position, we will create budgets for different scenarios including cash flow analyses, taking all income sources under consideration. We will work with your financial advisor to develop a customized plan for you. We will also coordinate with other professionals in your "care circle" in developing your financial plan.

You will always maintain control of your financial and non-financial accounts. In some cases it may be more efficient for you to provide a limited power of attorney for specific items, like speaking to utility companies on your behalf, speaking to your insurance company,  speaking to your bank on your behalf or even your auto lease company. In some cases, you may need to be on a call to provide verification to speak/act on your behalf.

As a client, we will go to great lengths to clearly understand your personal finances, your preferences – what they are, what’s important to you, and what your expectations are.  We make it easy. We will also completely automate your bill paying process which not only will reduce the amount of paperwork, it will allow you to truly be "hands off."  In addition, we will monitor for any irregular or unusual activity in your accounts.

Yes.

All client information is confidential. We will never share your personal information with anyone unless authorized in writing.

We will collect a retainer upon signing of the LOE. We invoice monthly, payable upon receipt. We accept checks or transfers through Venmo.