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Your Finances in Retirement: When Do You Turn Over Control?



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His father’s assets dwindled precipitously with the onset of his cognitive decline. Mr. Appel said his father had paid two months of a friend’s rent when he could scarcely afford to and spent large amounts of cash. Mr. Appel was unable to stop the bleeding, even after he got a lawyer involved.“I was told it was technically his account and I couldn’t prevent access to it,” he said.What can you do if you don’t have someone to turn to? Finding a professional fiduciary is an option. Fiduciaries are agents who are licensed and regulated by states to handle a variety of money management tasks and assist with financial decisions. To find …

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