Senior Financial Planning with TAG Family CFO

By August 14, 2013Archives


This week’s LivHOME guest blog post comes from  TAG Family CFO, a California based company that helps seniors with their financial assets.  With TAG Family CFO, you’ll have our dedicated team to help plan, organize, and monitor your financial assets. From bookkeeping to reporting and analysis, TAG Family CFO is here for you and your family. Here is a past client case in which TAG Family CFO steps in to help the family manage their loved ones financial assets.


The client was  a recently widowed, elderly women, with an on-set of early dementia and had very little experience with managing family finances.The  family reached out to TAG Family CFO as a solution to monitor her finances and bill payment.  With the seniors lack of household accounting and recent ailing health, she became more susceptible to fraud and mismanagement of funds.  Communication with her family and advisors became difficult and they were in need of a firm with a reputation of trust and continuity.


 TAG Family CFO’s ongoing engagement includes the following:

  • Transitioned all bills and bank statements to be sent directly to TAG in order to handle timely bill payments and vendor management.
  • Implemented accounting procedures to ensure checks and balances.
  • Established payroll system for household staff to avoid liabilities from noncompliant employees.
  • Provided monthly financial statements and annual tax organizer for the senior, her family, Trustee and financial advisors.
  • Evaluated costs to outside vendors and household staff to make recommendations and eliminate non-necessary payments.
  • Created a tracking process for philanthropic donations.
  • Monitored healthcare providers when the senior’s family was out of town.
  • Tracked and created inventory list for all valuables, including art and jewelry to ensure better insurance coverage and protection from theft.
  • Personal concierge services – wide range of special projects from mail pick-up to warranty coverage tracking.

With the help of TAG Family CFO, the senior, her family and advisors continue to have peace of mind that the finances are being handled in a professional manner with checks and balances in place.  The senior’s trusted advisors are able to make better planning decisions with access to timely financial reports and updates.  All bank fees and interest charges that had resulted from late payments and lack of cash management were eliminated.


This was a great example of how a company with a strong track record and capable financial planners can make handling your loved ones finances much easier.  Have you started to assess your loved ones financial future? Tell us more about it  in the comments below.


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