Reply to I got POA of mother because brothers are Aholes!

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Have you actually evaluated her income vs expenses?  For most people 13k per month expenses is not sustainable. I realize you say that your husband is a 'multi millionaire', but your mom likely has a finite amount of money and many years of expenses. I know you don't want to hear it, but your brothers may have valid reason for concern.[/quote]

This is also a good point. Have you met with a financial planner? 13K/mo is significant. Does she still have income from investments, and are those anticipated to be stable?[/quote]

OP, you seem naively puppies and rainbows about the situation. You and your mom “thinking” you’re doing a great job does not a long term financial plan make. 13K in expenses a month with no income over year and years with no set end date can become an underwater situation.

It sounds to me like your brothers know your mothers actual finances, but yiu are going out of your way to ignore them and give her things she wants, other than the reality of her situation. That doesn’t benefit her at all, as happy as she’s going to be in the beginning. Care will only get more complex and expensive as she gets older.  [/quote]

Trust me I’ve done my homework. She has an annual income  of about 100k a year from her investments. Therefore she needs about 60k supplemented for her care.   Selling her home alone will give her 10 years of supplemental money for her care. That’s without touching her savings accounts, investment properties and business properties.   At 90 we can look at selling one of her other properties to give her another 10 years.   Still not having to touch her investment properties.  Get it?[/quote]
Maybe it is 60k this year, but, funny thing about end of life care, the expenses only go up.  [/quote]

Funny thing so does the income on investment properties. [/quote]

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