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Not inclined to let her starve on the street.

I get the feeling, but in the end you cannot protect someone from themselves. You might be able to set up some sort of trust for her, but I'm not sure. You'd have to talk to an expert (i.e. trust attorney). I'm almost certain if her name is on it as an owner, she can liquidate it. So you almost certainly don't want to do that.

If she is capable of learning, do the tough love for a while and then say something like "this is the last time we'll bail you out...mess up again and you're on your own". If not, contact the attorney.

FWIW, we have an investment for my SIL. She sent about $2000 (in cash through the mail!), and we bought some stock for her. I think she's forgotten about it, and it's now worth over $30000. When her number comes up, and she can relocate to the US, we're going to give it to her as some cash to get established. We also have a settlement from when 1poorkid was hit (her car was totaled). I plan to release that to her when she moves out permanently. It's in Vanguard, growing steadily.

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