Client Story: Melissa

Meet Melissa.

Melissa resides in the health-care center of a retirement community due to her ongoing struggle with an auto-immune disease.  Fortunately, she has a younger sister who is her power of attorney and looks out for her best interests.  When I met Melissa, she had just lost her husband, had led a very protected life, and was beginning to have some cognitive challenges.   She and her husband planned well for her care, but her sister lives over 1500 miles away and they wanted someone local to be in touch and handle the financial affairs.  Melissa’s accountant connected us, and we have had a good time working together ever since!

The Estate

When I first started working with Melissa, there was a lot of estate work to sort out.  I visited her and we used the phone and my computer to begin the job of closing accounts that were no longer needed, like her husband’s cell phone account and auto insurance.  Some accounts were switched to Melissa’s name.  I helped her get payments from her husband’s pension and insurance benefit departments.  We changed to a more convenient bank and ordered new checks and credit cards. 

I was in constant communication with her sister and could provide both guidance and remote assistance.  We held a financial support team meeting when she visited, consisting of Melissa’s attorney, financial advisor, POA, and daily money manager (me).  It was very helpful to have everyone on the same page and Melissa felt very well cared for!

“There are only a handful of people who have the patience, intelligence, compassion, and determination to do your job.    We are just very fortunate to have you helping us.” –E.A.

Ongoing Care

Because of Melissa’s needs and all the changes that were happening, her sister wanted me to visit twice a month.  Melissa’s memory for short term things is fairly poor but she is able to keep incoming mail organized for me to review.  We go through it together and I explain anything she doesn’t understand.  I scan any important mail and pay her bills online.  Every transaction is recorded and categorized, which makes tax reporting quite easy.  And I get to tease her about her online candy purchases! 

All statements are reconciled and Melissa’s sister/POA has access to all the bills, statements, receipts and monthly reports.  I make sure her quarterly taxes are paid on time as well.   She has nothing to worry about.

The Savings

Initially, being able to quickly close some of her husband’s accounts saved Melissa a few hundred dollars a month.  They might still be getting paid if it had been left up to her!  Having someone review transactions brought to light an act of fraud that still boggles my mind.  Somehow fraudsters were able to open a credit card and tie it to her money market account at her first bank.  They quickly drained about $70,000 from her account in charges under $10,000 each.  The bank denied responsibility at first, but later restored her funds.  Her sister and I were able to resolve the issue so Melissa never had to worry.  (We did tell her after the fact.) 

Having someone to lean on means that Melissa can ask questions before falling prey to any number of scams and advertisements for things she does not need.   I also make sure there is enough cash in her account each month to cover her expenses and coordinate with her sister and her financial advisor when changes are needed.

Is This You?

Does someone you love need assistance with their everyday finances and paperwork?  Are you stressed about the situation because you are too far away or unable to help? 

Would you like to worry less and spend the little time you have with them instead of paying their bills?


Call Paper Tigress at 302-729-3667 or 484-727-8444 today.