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Financial Planning / Tax Strategies
|Subject: Re: Unexpected windfall||Date: 6/22/2007 6:40 PM|
|Author: TMFPMarti||Number: 94992 of 121319|
They're fine for their "retirement years", which began two decades ago. This real estate is one of five parcels my uncle talked them into 18 years ago, and my sister (anesthesiologist, BIL is a neurosurgeon) has helped them with their other investments along the way.
I hate to be the one who always has a skunk in tow at the garden party, but....
This is good news, but make sure they have considered long-term care issues. I hope the saddest day of my life was the day that I had to tell my father that he would run out of money in about 9 months. My parents went through well over $200,000 in the last 2 years of their lives. I'm just thankful that they had it, and we were able to keep them at home.
I've had occasion to opine on end-of-life issues on another board recently: http://boards.fool.com/Message.asp?mid=25611952
Modern medical science can keep the heart beating long after the body has exceeded its shelf life. Prepare for it.
I realize that I sound harsh about doctors, and I don't mean to be. I recognize that they are given little preparation for their 100% failure rate. They are trained to cure, and, as Wise Cousin Barbara pointed out after my last trip to the ER with my father, when you show up they assume that you want them to do something.
I thank God daily for people who work in hospice. They were truly a blessing for me.
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