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BUSINESS Monday 8 July 2019
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Liz Weston: 3 sites to help aging parents organize details

By LIZ WESTON aging plan” helps people The service costs $75 per
NerdWallet prepare for transitions in liv- year.
Associated Press ing arrangements, driving EVERSAFE
Certified financial planner and health care decisions, EverSafe monitors financial
Sean Fletcher of San Fran- allowing them to docu- accounts for unusual activ-
cisco knew his dad had an ment their wishes. A feature ity, large transactions and
estate plan, complete with called WhealthcareCon- other potential problems.
a health care directive de- nect can match people to The site alerts you via email,
tailing what medical treat- financial advisers who spe- text or automated phone
ment should be given in cialize in issues facing older call and can be set up to
an emergency. When the adults. The annual cost is signal trusted others, as
father had a massive heart $39 for one individual plan, well.
attack, though, no one $69 for a couple and $149 The basic service, which
knew where he kept those for a family plan that in- costs $7.49 per month after
documents. Fletcher’s fam- cludes up to five people. a 30-day free trial, monitors
ily was lucky: An aunt found EVERPLANS bank and credit card ac-
the paperwork in a closet. Everplans is an online vault counts and the dark web,
His mother was able to stop where you can store impor- where your personal infor-
treatment according to his tant documents, contacts, mation may be for sale.
father’s wishes so that he This April 2017, file photo provided by NerdWallet shows Liz login credentials, instruc- For $14.99 per month, you
could die more peacefully. Weston, a columnist for personal finance website NerdWallet. tions on what to do with can add credit monitor-
“Despite her misgivings, I com. your social media sites and ing. For $24.99, the site will
believe this minor miracle Associated Press anything else your fam- monitor investment ac-
gave my mom the confi- WHEALTHCARE face as they age. The ser- ily might need to know to counts as well. An addition-
dence to carry out what Whealthcare was co- vice also provides a transi- handle your affairs. The site al $4.99-per-month service
she had agreed to do,” founded by two people tion plan that allows trusted offers step-by-step guid- monitors your home and
Fletcher says. who specialize in the ar- people to take over and ance to identify and or- other real estate for new
It’s not enough to be orga- eas where health care a customized to-do list to ganize your important in- liens or defaults on your
nized and responsible. We meets finances: physician- make sure crucial docu- formation, from insurance property.
need to think about who turned-financial-planner ments are in place. (Pow- policies to pet care plans. If I found the dark web moni-
will be responsible next. Carolyn McClanahan and ers of attorney allow oth- you’re not comfortable up- toring particularly interest-
Fortunately, there are sev- software developer Chris ers to make vital decisions loading something to the ing and was surprised at
eral sites that can facilitate Heye, whose other compa- if we’re incapacitated, for site, you can leave instruc- how many of my passwords
that transition for our aging ny, Cogniscient, develops example, and health care tions to help your family find had been exposed in vari-
parents — and also for our- cognitive and behavioral directives spell out what what they need. You name ous breaches. It was good
selves. In fact, the best way assessments to aid older life-prolonging measures “trusted deputies” and de- motivation to change my
to introduce these sites to people in making sound fi- we do and don’t want.) cide what they can ac- passwords — and to make
your parents may be to use nancial decisions. Another assessment gaug- cess on the site, and when. sure my trusted deputies
them yourself. That way, Users answer questions on es a person’s risk for fraud, You might give one deputy could access the new ones.
you’ll be familiar with how the Whealthcare site, and exploitation and bad fi- (say, your spouse) access Because protecting all my
they work and can vouch these assessments are used nancial decision-making, to all the documents while information and accounts
for their helpfulness in get- to create a “financial care- and offers recommenda- another (perhaps your ex- won’t do much good if my
ting information to the peo- taking plan” that identifies tions for protecting against ecutor) gets access only family can’t find what they
ple who will need it. the issues they’re likely to those threats. A “proactive after your death. need when I’m gone.q

Deutsche Bank to slash 18,000 jobs in sweeping restructuring

By DAVID McHUGH earnings such as serving of what strategy the bank crisis, including a $7.2 bil- company.q
Associated corporate customers. could pursue to make its lion settlement in 2017 with
FRANKFURT, Germany (AP) The bank would also create business leaner and more the Justice Department
— Germany’s struggling a separate unit to dispose profitable. over selling bonds based
Deutsche Bank said Sun- of investments that are less For years, Deutsche Bank on mortgages to people
day it will cut 18,000 jobs by profitable or no longer fit has struggled with regulato- with shaky credit. But that
2022, downsizing its volatile its strategy. The bank said ry penalties and fines, weak hasn’t ended the negative
investment banking division it did not expect to have profits, high costs and a fall- headlines. Two congressio-
in a sweeping restructuring to raise additional capital ing share price. The bank nal committees have sub-
aimed restoring consistent from shareholders. went three straight years poenaed Deutsche Bank
profitability and improving The job cuts would reduce without turning an annual documents as part their
returns to its shareholders. the workforce to 74,000. The profit before recording pos- investigations into Presi-
The Frankfurt-headquar- bank would not say where itive earnings for 2018. CEO dent Donald Trump and his
tered bank said it would the cuts would fall; many Christian Sewing took over
cut roughly a quarter of of its investment banking last year and promised fast-
its total cost base through activities are carried out in er restructuring after pre-
steps such as dropping the New York and London. decessor John Cryan was
investment bank’s stock- The move follows the failure perceived to have moved
trading business. of merger talks with Ger- too slowly to restructure the
It will also slim down its di- man rival Commerzbank. bank.
vision focused on fixed-in- Deutsche Bank said the The bank paid billions in
come investments. By do- combination would not fines and settlements relat-
ing that, the bank is to fo- make business sense, but ed to behavior before and
cus on areas with steadier that left open the question after the global financial