Call Connelly Law Today

Rhode Island Elder Law Attorney

Phone:  401-724-9400

Fax:  401-724-3046

Our office locations

Connecticut

47 Water St., Suite 101

Mystic, CT  06355

860-440-7600

This website includes general information about legal issues, issues affecting seniors and developments in the law. Such materials are for informational purposes only and may not reflect the most current legal developments. These informational materials are not intended, and must not be taken, as legal advice on any particular set of facts or circumstances. You need to contact a lawyer licensed in your jurisdiction for advice on specific legal issues and/or problems.

Rhode Island - Main Office

372 Broadway

Pawtucket, RI  02860

 401-724-9400

Massachusetts

Martha's Vineyard

Oak Bluffs, MA  02557

508-316-2396

Follow us on:

  • Facebook Social Icon
  • Twitter Social Icon
  • Google+ Social Icon
  • LinkedIn Social Icon
  • Pinterest Social Icon
  • Instagram Social Icon

Rhode Island Elder Law Attorney - Daily Money Management

Elder Law Attorney for Rhode Island, Eastern Connecticut and Southeastern Massachusetts

Managing household finances and running a home can sometimes be overwhelming.  These tasks become even more burdensome as we age and depending on adult children, who are often balancing raising their own families with a job, to take on this responsibility can lead to problems for both parties. 

 

Connelly Law Offices, Ltd.'s Professional Fiduciaries provide daily money management services to individuals.  Because of our background in elder law, we include household money management, bill paying services, create planning scenarios for families, and advocacy with insurance companies and creditors.

 

It is Connelly Law's goal to help independent seniors stay independent as long as possible while providing their family with a sense of relief and comfort.  For over four decades, we have helped thousands of clients navigate the often unfamiliar waters of the aging process.

Who Needs a Daily Money Manager?

  • Older adults can benefit from the services of a DMM as the task of handling bills, deposits, and payments becomes much more challenging as we enter our later years

  • People who are constantly on the road for work or pleasure

  • Those who prefer to pay someone to handle their daily finances

  • Busy professionals who have more money than time

  • Persons with disabilities that prevent them from being able to handle their financial matters themselves

  • High net worth individuals and families with complex financial lives

What Does a Daily Money Manager (DMM) Do at Connelly Law?

The expertise of DMMs covers a broad range of tasks. The actual work they do depends on their background and client need; however, the scope of personal financial services generally includes:

  • Bill paying, including calls to payees regarding incorrect bills and preparation of payments for client approval.

  • Reconciling checking accounts and investment statements.

  • Preparing and making bank deposits.

  • Organizing tax documents.

  • Negotiating with creditors.

  • Reviewing medical insurance papers and verifying proper processing of claims.

  • Providing general organization of financial papers and systems.

  • Referring clients to legal, tax, and investment professionals and to community resources.

 

What Other Services Do We Provide?

  • Notary services.

  • Accepting responsibility to act as power-of-attorney or representative payee for SSI

  • Fiduciary services such as trustee, executor, conservator, guardian, or health care proxy

  • Financial counseling.

  • Preparing budgets for spending plans.

  • Preparing plans to reduce debt.

Can't I Hire a Friend to Manage My Money?

Perhaps you could, and the low cost may be appealing, but asking even a well-intentioned amateur to handle necessities like monthly bill payments, tax preparation, balancing checkbooks, decoding medical bills and negotiating with creditors can be risky as personal financial matters become more complicated. And the growing risk of elder financial abuse is well documented.  A professional daily money manager can protect what you have worked for and ensure that all bills and obligations are paid on time.

Rhode Island, Southeastern Massachusetts and Eastern Connecticut Elder Law Attorney

Our experienced and highly qualified daily money managers specialize in helping people manage their day-to-day personal finances—paying bills, tracking insurance claims, organizing files, safeguarding important financial documents, budgeting, and more. Our clients are seniors, busy professionals, or families of seniors seeking help with managing an elderly loved one’s finances. Our clients know that protecting their assets and managing their finances is incredibly important even though it can be overwhelming from time to time. That is why we strive to provide you or your loved ones with quality, professional, money management services.   We are proud members of the American Association of Daily Money Managers.

                                                                                                                ---- RJ Connelly III

Contact Us!

© Connelly Law Offices, Ltd.  2020