Caring from a Distance: How We Support Adult Children Watching Over Independent Aging Parents

As our parents age, many of us step into a new and unfamiliar role—quietly monitoring from the sidelines. They’re still independent, still sharp in many ways, but we begin to notice small cracks in the foundation: a missed bill, tax confusion, or reluctance to revisit estate documents.

It’s natural to feel uncertain.
Who are Mom and Dad’s trusted professionals? Are they still effective? Is anyone overseeing the full financial picture? Are they being taken advantage of?

At Members Wealth, we’re built for exactly these moments. As a fiduciary, multi-family office, we help families manage complex financial lives with empathy, structure, and clarity. Utilizing a team-based approach, our mission is to preserve and grow wealth to endure over time, while thoughtfully evolving your strategy to suit an ever-changing world.

How We Help Families in Transition

• Integrated Collaboration
  We develop, implement, and execute custom planning and investment strategies—coordinating directly with your parents’ CPAs, attorneys, and other professionals to ensure alignment and avoid gaps in execution.
• Quarterly Family Meetings
  We invite adult children to participate in structured reviews, providing peace of mind and transparency into how their parents’ financial lives are being managed.
• The MembersMyPlan™
  Our proprietary planning platform organizes key details in one secure location—covering family structure, tax details, estate plan, retirement cash flow, risk profile, investment allocation, and legacy goals.
• Customized Roadmap
  We build a first-year planning agenda tailored to each client’s priorities, adjusting over time as needs evolve.

But more than strategy—it’s our people that make the difference. We take time to truly understand each family’s story, values, and goals. Because managing wealth isn’t just about performance—it’s about preserving legacy.

Tax Tip: Paying a Family Caregiver May Be Deductible

If a parent pays an adult child for caregiving, the cost may qualify as a deductible medical expense—if structured correctly. The IRS requires:

• A written personal care agreement in place before services begin
• That the care qualifies as medical (e.g., help with bathing or medication)
• That the caregiver reports the income appropriately

This arrangement can benefit both generations. We help families coordinate with their CPA and estate attorney to ensure everything is aligned and compliant.

Investment Tip: Diversifying Without Triggering Capital Gains

Many retirees hold concentrated stock positions—often from long-held company shares. While emotionally significant, these positions may pose outsized risk. And the fear of capital gains taxes often discourages action.

We often recommend two advanced strategies:

• Direct Indexing: Provides customized diversification while using tax-loss harvesting to offset gains over time.
• Exchange Funds: Allow investors to pool appreciated shares with others to achieve diversification without realizing immediate gains.

If your parent is hesitant to sell a legacy holding, these strategies may offer a tax-sensitive path forward.

We’re Here to Help

If you’re quietly watching from a distance, unsure whether your parents' financial life is still in safe, capable hands—you’re not alone.

As a fiduciary, we’re here to support, guide, and communicate—with your family's best interest always at the center.

Let’s talk.

Investment strategies, including rebalancing, do not guarantee improved performance and involve risk, including potential loss of principal. Past performance does not guarantee future results. The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.

About the Author – Tim Macarak CFP®

Tim Macarak is President & Head of Wealth Management at Member’s Wealth, a boutique wealth management firm that offers a comprehensive approach to serving individuals, families, business owners, and institutions. The firm’s goal is to preserve and grow its clients’ wealth to endure overtime, while thoughtfully evolving its strategy to suit an ever-changing world. With over 20 years of wealth management experience, Tim and the Members' Wealth team thrive on bringing clarity and confidence to clients' unique situations. He believes everyone needs sound financial advice from someone whose interests are aligned with theirs and is determined to put service before all else.

Tim is a CERTIFIED FINANCIAL PLANNER® Professional. Outside work, he enjoys spending time with his wife and kids, Skiing, Coaching, and Traveling. To learn more about Tim, connect with him on LinkedIn.

To get in touch with the Members’ Wealth team today, I invite you to email info@memberswealthllc.com or call (267) 367-5453. 

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Investment advisory services are offered through Members’ Wealth, LLC., a Registered Investment Advisory Firm.

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