I'm fairly new to the board, and have a situation I need you Fool's advice. My mother is 96 years old, in a nursing home. Fairly decent physical health, poor mental capacity. She has a monthly income from retirement, social security and one investment of $1300 a month. Her nursing home and medication bills run $3250 a month. She will be receiving shortly a bequest from her sister's estate of approximately $300,000. I am the only heir of her estate. My question is how to best use the $300,000 to assure she has the monthly income to pay her monthly nursing home and medication bills and taxes if any (currently she has no tax liability)and if possible retain as much of the $300,000 as possible. What suggestions or recommendations do you have?
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