← 5 Financial Steps to Take When a Parent or Loved One is Dying

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By Anslem Samuel | Published September 2, 2011 | Full size is 620 × 480 pixels

Taking care of financial matters may be the last thing on your mind when you're dealing with a parent or loved one who is dying. But when a relative has been diagnosed with a terminal illness or has become very sick, you may need to take steps to protect their wealth and organize the family’s finances. Planning for death isn’t easy, and can be a very stressful experience. However, educating yourself on what types of resources are available to you, and taking some time to review a will and other financial documents can help you and your family member better prepare for that loved one’s passing. Here are five financial steps you need to take when a parent or loved one is terminally ill. —Lynnette Khalfani-Cox

Taking care of financial matters may be the last thing on your mind when you’re…

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