No. of Recommendations: 0
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

I think I would go with Kevin's answer. Treat the money as if it was yours (must stay in mothers name) and it is your obligation to pay the bills. Depending on your desire for risk put two or three years of expenses in a fixed income security. If you have the capital or income, the rest of the money goes into stocks and you sell as you need to. If the investments run into trouble, you pay the bills until the stocks recover.

She should not have any federal taxes as her nursing home and medical expenses should offset a good part of the income.
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