Greg McBride

2 months ago | kiplinger.com | Ella Vincent |Greg McBride

According to the National Institute on Aging, six million Americans age 65 and older are living with Alzheimer’s disease. If dementia or other health issues prevent an elderly parent from paying their bills or monitoring their financial accounts, opening a joint bank account could help you protect them from fraud and manage their money. Most banks will allow you to become a joint owner on a parent’s existing bank account. Otherwise, you may choose to open a new account.