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Started by sfpf, August 14, 2019, 07:18:57 PM
Quote from: Leigh on September 18, 2019, 06:32:53 AMI mentioned this in another thread. We pay a weekly laundry bill so my 88 year old Dad doesn't have to their laundry. I worry about him falling. I put their cable, credit card bill and others on auto-pay and I make sure they are all in order.I also invest their money, redirect any called muni-bonds, have all banking documents sent to me, and try to keep as much financial data out of their hands. I do this because my mama has dementia but thinks she can still manage. She can't. I made sure I had a power of attorney and had copies of every pertinent document. I wish I had done this earlier. Once I set up online credit card account, and searched for continuity charges, I found $275 per month where they were paying for things for which they had been scammed.When I speak to adult kids with an elderly parent, that is one of the biggest ideas I push. Get an online presence with your credit card. The elderly fears it will make them vulnerable. I tell them "Your credit account is ALREADY on the computer, you're just the only one who can't see it!" Continuity charges go unchecked for years. Sorry, I got carried away, LOL. It's a hot topic for me.
Quote from: svytraveler on September 29, 2019, 08:14:11 AMI send my mom $1000 monthly, who, in part, supports my handicapped sibling. I used to give her a little bit of money or other things periodically, but she was running short a couple times, incurring overdraft fees a couple times a year, and she shared with me that she feared running out of money. She was a very good saver for our family when I was young and ensured we had opportunities that a truckdriver's kids might not have had, music lessons, ballet, gymnastics, etc. My family did not need to pay for my undergrad, and I paid for my own grad degree. So maybe there should be a bit more there? However, about five years ago I encouraged her to buy a two bedroom condo in FL to escape the harsh midwest winters before I realized she was stretched budget-wise. She has suggested selling it, but for now we get together as a family there and I've encouraged her to keep it and/or offered to pay the mortgage and taxes. (It gets her some time away from my sibling too.) When she dies, I am thinking that the condo and the house in the midwest will going into the special needs trust for my sibling, which I will administer. She loves to travel so I've exchanged my AMEX MRs for us to go Tokyo in the Spring FC on ANA. (It was a great redemption and neither of us have flown FC before.) It could be my mom's last trip where she is mobile enough to get around with assistance.Back on topic: I have a close friend who provides some support to her spendthrift father and step-mom (maybe paying the mortgage?), and her sister also sends them gift cards to grocery store, so they spend it for food. In comparison, I think I am lucky with my situation.