Reply to Is it ethical of me to cut off my 75 yo sister financially?

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[quote=Anonymous]You're in a tough spot.  If she is mentally competent then there is not much you can do about her choices, financial or otherwise.  However, I think that you need to get out from under this financially because your sister's behavior and that of this friend could really begin to harm you financially, beyond the mental stress you're experiencing now.

You should consult an attorney.  Basically you need to end the trust and, in essence, sign a quit claim deed for the home over to your sister.  This will mean that you will deprive yourself of your share of the $80k profit (which you would only get if you sell).  Then you will need to write your sister a letter explicitly stating that the trust has been ended, the house has been signed over to her, that you no longer own the house and that you are no longer responsible for any expenses related to the home.  Be sure to have the change in homeownership recorded so that you (the trust) are not on public records as owning the home.

I also agree that you need to call elder services for your jurisdiction and put your sister on their radar.[/quote]

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