No. of Recommendations: 0
<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.

Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.