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Spiegler would establish a living (or revocable) trust and put all the assets she could into it now. She'd serve as her own trustee, naming her brother and a financial institution as

successor trustees who could take over if necessary. Eventually, the institution would handle her bills and manage her investments. “The benefits of an institutional trustee are

professionalism, experience and guidance,” says New York City estate planning attorney Martin Shenkman. “There are tons of checks and balances to protect you. That's vital for anyone

who is vulnerable and isolated.” This safe solution can be a pricey one. Traditional trust companies sometimes serve only clients with several million dollars. But mainstream financial

institutions like Fidelity, Schwab and Vanguard also do this work. Their annual charges start at $4,500 a year (on top of usual investment costs, like fund fees). Even these less expensive

alternatives, however, cost more than Spiegler — who has a pension and a retirement account in the low six figures — wants to pay. 2. A FINANCIAL TEAM What Spiegler needs is a team, says

Carolyn McClanahan, a Jacksonville, Florida-based financial adviser who specializes in life-planning issues. “You need people doing the work,” she says. “But you also need people watching

the people doing the work.” McClanahan suggests hiring a bill-paying service for the day-to-day money management, then having an accountant or attorney (someone who is also a fiduciary)

lined up to make the bigger financial decisions. Because a bill-paying service typically charges less per hour than an accountant or lawyer, this works out financially as well. But, cautions

Nancy Sween, National Association of Elder Law Attorneys spokesperson, you don't want that bill payer to be a random person you find online. “You want to make sure they're

insured, bonded, and that you check out their website and their background,” she says. One such option is SilverBills, a household bill management service that operates nationwide; it

reviews bills and authorizes payment for a flat monthly fee starting at $99. Another option is to find a service through the American Association of Daily Money Managers (aadmm.com), a group

of individuals and small companies nationwide. 3. A PRIVATE FIDUCIARY California attorney Stuart Furman, author of _The ElderCare Ready Book_, suggests Spiegler keep her brother in place as

power of attorney as long as possible, while simultaneously setting up a “springing” power of attorney who would take his place if he were unable. Who would do this job? A private

fiduciary. These are independent, licensed, bonded individuals. You can interview, check references and hire one in advance, much as you would a lawyer or accountant. A fiduciary acts for

the benefit of the client — in other words, putting your interests first. They can serve as powers of attorney for health care as well as finance, executors for an estate, bill payers and

even guardians. They typically charge $100 to $150 an hour for their services. This arrangement might work for Spiegler if she lived elsewhere. Unfortunately, licensed private fiduciaries

exist only in California and Arizona. THE OUTCOME In the end, Spiegler decided to do nothing — yet. “This information is very valuable,” she says. But she acknowledges a psychological block

to getting started: “Right now I like being independent and taking care of my own business.” _Want Jean Chatzky’s help in sorting out a financial problem? Send an email to [email protected]_

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