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Just wanted to add something to consider. What is your parents' knowledge and comfort level with investments?When we gave our parents, aged 90 & 78 at the time, some money to help, we put it in Vanguard GNMA in their names to hold for at least 5 years - receiving the dividends only. We thought there would be security for them having the money in their names. GNMA has not done well recently, although their monthly checks remained the same they panicked - sold at a loss and put it in a bank CD. We said we understood why they did this, didn't want to upset them by sharing our concern that it was a poor decision - but sure wish we had left the money in our name, left it in stocks and sent monthly supplemental checks instead.

Since then our father died after needing home care for a couple of years and nursing home the last month. Long term care that paid for at home and/or nursing home care would have been a big help.

Good luck, Charlotte
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