Since my parent’s spouse passed away last year, they have struggled to keep up with their bills. Although they want to do things without help, I am worried they will fall behind on payments. How can I help them manage their finances without overstepping?

Many adult children step in to help parents with their finances. Whether it is paying bills, handling bank accounts, filing insurance claims or sorting through taxes, taking on these financial responsibilities can feel tricky. The key is to approach the issue with respect, organization and appropriate safeguards. Here is how to help a parent without intruding on their independence.

Have a conversation

Talking about money can be sensitive, especially with a parent who values doing things on their own. Start with a gentle, respectful conversation. Share your concerns and offer to help with bills or other chores. If you have siblings, include them in the conversation as well. Knowing that the whole family is on the same page can reassure your parent that everyone cares and that you are approaching the situation with transparency.

Get organized

If your parent is receptive to your help, the first step is getting organized. Start by making a list of their financial information, including monthly bills such as utilities, phone, cable and credit cards. The list should include all bank accounts, investment accounts, retirement plans and pensions. It is also helpful to list all insurance policies, including life, home, auto, long-term care and Medicare. Keep copies of your parent’s most recent income tax returns with this financial list. Having everything in one place will make managing their finances much easier.

Locate legal documents

It is important to talk to your parent about whether they have an estate plan. The essential legal documents for an estate plan may include a will, trust, an advance directive with a living will and health-care proxy and a durable power of attorney for finances. If your parent has an estate plan, you should discuss where copies are kept so that the documents can be easily accessed when needed. If there is no estate plan in place or if it has been a long time since it was last reviewed, it is important to encourage your parent to make an estate plan or get their current plan updated.

Simplify financial tasks

To simplify bill payments, it is recommended to set up automatic payments. In addition, most income payments can be direct deposited into a bank account. If accounts and investments are scattered, consider consolidating them since it is easier to monitor fewer accounts. With permission, it is also possible to manage banking and investment accounts online so you can pay bills and monitor balances without digging through papers or making extra trips.

Set up protections

Some people fall victim to online scams or engage in risky spending. To protect your parent, consider getting them a prepaid credit or debit card that gives access to money but lets you set spending limits. In addition, there are online services that will monitor accounts, flag suspicious transactions and send alerts to the account holder if something seems off. These tools will give you peace of mind while letting your parent maintain their independence.

Seek outside help

If you and your parent want professional help, there are companies who will take over the management and payment of bills. You may also encourage your parent to find a certified daily money manager who can come by once or twice a month to pay bills, make deposits, sort through health insurance statements and keep everything organized.

Helping a parent manage finances takes patience, respect and tact. With clear communication, organization and safeguards, your parent can be supported while maintaining their independence and peace of mind.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position