If you are acting as a caregiver to an elderly loved one, managing his or her investment portfolio may be part of your role. In order to best handle these financial matters, it is important to have a clear understanding of how to generate income through investments. This can include knowledge of the liquidity of the investment, protecting against the effects of inflation, understanding tax implications and weighing the risks associated with each type of investment. A caregiver’s role gives rise to a fiduciary duty where the needs and duties of the loved one must be considered with those of his or her heirs and beneficiaries as well, which can be a challenging balance to strike.
Full story at Aging Care.