If you're preparing to take over control of your elderly relatives finances, it can seem

properly daunting.

So let's look at some things which you and your parents together can do to make the whole

transition easier.

Many of us have enough difficulty managing our own finances day to day, let alone somebody else's.

So it'll really help if we can get things set up for success

as early as possible.

So let's put five minutes on the clock to the left here.

Say a quick thank you to my friends at 7 Investment Management for

continuing to sponsor the show and let's crack on. So today's video is brought to you

by the letter C and the word simplify. Now I bang on about simplification all the time on the podcast but I'll never

tire of saying it. Really you should make life as simple as possible for yourself

when it comes to your finances.

Because if at any point of the process you're adding friction,

then you're less likely to do whatever the action that you need to do is.

Okay, so the letter C, we've got four points,

all beginning with the letter C,

and the first is to collect.

So firstly, you're going to need to create an inventory

of all the financial accounts that your parents have.

Obviously this starts with Bank and Building Society accounts, but you'll need to take it way

further than that, I'm afraid.

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