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Author: gurdison Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 736235  
Subject: Re: Managing mom's acct Date: 2/1/2000 2:29 PM
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<She's physically quite healthy with significant dementia (not Alzheimers) and I have durable power of attorney >

For the emotional part of dealing with the situation, try to keep as positive as possible. It is very difficult to have a loved one go through this.

For the financial part I suggest you have a face to face meeting with your accountant (or set one up if you do not have one). You can map out what your mom's medical expenses will be and how to maximize her portfolios return. IE: you want to be aware that selling any of the bonds may generate a capital loss due to bond prices being down. However, if you have some gains, you may be able to offset them with the medical expenses. One of the first things you should do is to pinpoint the cost basis of all the portfolio holdings. This will allow you to see the gain/loss status of any items you may want to sell. By going over the various senarios with a professional advisor you can make better choices. One other piece of advice: keep very good records of everything you do.

BRG
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