NerdWallet Book Club: How to Manage a Parent’s Money
NerdWallet
by Kimberly PalmerFebruary 20, 2026
AI-Generated Deep Dive Summary
The article explores the challenges and responsibilities of managing a parent’s money, particularly when they are unable to handle their finances due to illness or aging. The piece highlights the emotional and logistical complexities involved in financial caregiving, offering insights from *The Daughter’s Dilemma: How to Manage Your Parent’s Money Without Ruining Their Life* by Beth Pratt-Wilson. It emphasizes the importance of clear communication, careful planning, and respecting the parent’s wishes while ensuring their financial stability.
Middle paragraphs delve into specific pitfalls to avoid, such as power struggles with siblings or making decisions without consulting loved ones. The article also discusses practical strategies for managing a parent’s finances, including creating a budget, tracking expenses, and seeking professional advice when needed. It stresses the value of open dialogue about financial goals and preferences early on to prevent misunderstandings and conflicts.
The article underscores why this topic matters: as more people take on the role of financial caregivers for aging parents, understanding how
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Originally published on NerdWallet on 2/20/2026