AADMM in the News
Are you asked to help your family with finances? Rather than approaching it with a long-simmering grievance (“I’m not responsible for these people”), say this instead: “What can I do to help”
The American Association of Daily Money Managers (aadmm.com) is mentioned as an option for your financial team to avoid the risk cited by Nancy Sween, National Association of Elder Law Attorneys spokesperson
Motley Fool – There are also people called “daily money managers,” and they will set you up on Mint or Quicken or anything like that if you don’t know how to do it. They will analyze your budget. They will also pay your bills. They will do a lot of the nuts and bolts parts of money management and I don’t think they get enough attention. You can look up the (American) Association of Daily Money Managers.
U .S. News & World Report – For a price, you can find someone to help with anything, and an accountant or bookkeeper might take on money management chores. But these days, many turn to a little-known community of specialists called daily money managers, represented by 800-member American Association of Daily Money Managers, which has a provider locating tool on its website.
Daily Money Managers (DMMs) provide personal business assistance, usually in the client’s home. They offer an array of services, which includes balancing the check book(s), writing checks to pay bills, and keeping accurate records of all checks written and all deposits made.
The CPA Journal – There are companies that can handle bill paying and other routine financial matters for elderly individuals; they may also be able to deal with health care insurance forms. Professionals offering these programs can be found through the American Association of Daily Money Managers.
Wall Street Journal – My mother is about to turn 80, and I’m increasingly worried about her ability to manage her money. My family and I are trying to figure out when and how to take on this responsibility, or at least provide some help. Any advice? This is a tricky subject, to say the least, and one that many of us are, or will be, grappling with.
San Diego Union-Tribune – Many parents are reluctant to let their children take on management of their money, either because they don’t want them to know their net financial worth or they don’t want to burden them with the responsibility. Often, they’re more comfortable turning over that responsibility to a neutral and professional money manager, with your help.
CreditCards.com – Staying on top of financial affairs can be a lot of work. Bank and credit card statements, tax forms, bills and other important documents constantly jostle for our attention. Many elderly, disabled and seriously ill people lack the physical or mental energy to keep up with all the paperwork and red tape. That’s where daily money managers come in. “Daily money managers help people deal with their day-to-day finances in a very practical way,” said Leah Nichaman, founder of Everyday Money Management.
Wall Street Journal – For many people, there is no legal document that is more crucial than a power of attorney. Or one so full of potential pitfalls. A power of attorney is an inexpensive legal document that gives a designated individual the right to act on another’s behalf when making financial decisions. It’s typically used by adult children whose aging parents…