Because the fading of dyes in color photos follows a reasonably predictable manner, i.e., cyan takes the heavy hit followed by yellow then magenta, you might try this the next time you run into a decidedly reddish cast in an old photo;
(1) open the Color Balance dialogue box in Photoshop or its equal in your editing program
(2) add cyan to the shadows, midtones and highlights at around 30% or so( you have to judge this for yourself)
(3) do final adjust.
Fading of dyes in color photos becomes evident and objectionable at around 30% loss. Depending on what other deteriorative processes are present, simply adding cyan and perhaps a smaller amount of yellow can work wonders. The attachment shows the result of adding cyan at 30% to shadows, 24% to midtones and 18% to highlights with no other tone/color etc. adj. done. Tom

Excellent tip Tom sice that is probably one of the most common problems to correct. Love the example correction.
DJ

Another excellent tip. Thank you Tom.

Ed

I tried this tip and it works great! Much better than what I was doing. Thank you! :)