This is an interesting article and case study, highlighting the importance of keeping a caring eye on ageing parents and their personal finances.

Cognitive decline can happen suddenly and is likely to have an impact on decision making around money matters.

Adult children should speak to ageing parents and agree a non-intrusive way in which they can keep an eye on things and help prevent any serious issues arising.

For many parents, the last thing they will want is the kids meddling in their financial affairs, especially if they have traditional attitudes towards money and privacy.

However, when positioned as an important safeguard to help prevent serious losses through poor decision making, neglect or even fraud; in our experience it is something most people would carefully consider.

If this is still considered intrusion in personal affairs, then asking your ageing parents to appoint a regulated Financial Planner is an alternative option.