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Here are eight steps to taking on managing the finances of your parents or loved ones. Start the conversation early. Make gradual changes if possible. Take inventory of financial and legal documents. Taking care of your loved ones' finances. Consider a power of attorney. Communicate and document your moves.

You can set up a file, put everything in a desk or dresser drawer, or list the information and location of papers in a notebook. For added security, you might consider getting a fireproof and waterproof safe to store your documents. If your papers are in a bank safe deposit box, keep copies in a file at home.

You can use a filing cabinet, a file box, ion folders, envelopes or whatever else works for you. If you really have lots of time, you can even digitize everything and store it online, though it is best to keep paper copies of really important documents.

The document must be titled ?Power of Attorney.? The document must be signed and dated by you and either notarized or witnessed by two disinterested people. The witnesses cannot be health care workers at a long-term care facility, blood relatives, or relatives by marriage.

A caregiver is someone who offers support to the aged or those with disabilities or special needs. Caregiving responsibilities may include companionship, daily care, homemaking, meals, personal care, and even medical assistance (home health care aide).

Caregiver documentation refers to the process of recording and maintaining detailed information about the care provided to a senior or individual in need of assistance.

Tips for storing an elderly parent's important documents Experts recommend organizing important documents in a master folder or box and storing in a secure place, like a fire-proof safe. Going paperless is another option for creating easy access to legal documents seniors should have.

What are common caregiver qualifications? Having relevant work experience and skills. Completing any required training. Passing a background check and general health check. Earning basic health certifications. Meeting age requirements. Possessing a valid driver's license, insurance and a good driving record.

Complete Other Important Documents At a minimum, you should create a will, power of attorney, healthcare proxy, and living will. Consider setting up both financial and medical powers of attorney so that people you trust will be there handling your affairs should you become incapacitated.