Here’s another practical problem we’re facing.
Background: For decades, Meda and I had a division of labor. She had the secure full-time job with benefits that we could rely on. I had a number of short term or part-time jobs, and did freelance writing along the way. But I was the primary cook, travel planner, and cat litter box monitor. Keeping our personal finances in order (bill payments, investment decisions, tax preparation, etc) was also part of my job.
As we recently prepared to fly to California for treatment at UCSF, I was scrambling to finish our federal and state tax returns. I made it, but the experience made me realize how quickly I could find myself unable to attend to those financial matters if my medical condition took a rapid and unexpected turn for the worse.
We established a living trust in 2018 that holds almost all of our assets–bank accounts, savings, investments, title to our home, etc., although it didn’t change management of our day to day finances.
So what should we do now?
It seems to me the question is how to go about selecting a third party to take over bill paying and tax preparation, or be ready to do so on short notice if I am suddenly unable to do the job. And how to do it with maximum legal protections for ourselves.
I know this must be a common transition for those with assets to manage, but before we reached that certain age, it never seemed like something we needed to be worried about. Now it is!
Before calling our bank to see what they can do, I thought that I would again solicit advice from readers, especially from those who have already managed such a transition. Please email me at ian@ilind.net, or text at 808-955-1819.
And I thank you in advance for sharing your experience.





