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Personal Finance and Investing

drray23

(7,964 posts)

1. you need to setup a irrevocable trust

Reply to albacore (Original post)

Fri Aug 16, 2024, 07:46 PM

Aug 2024

for your wife. A good advisor can set that up for you. It can be structured to guarantee your wife has the necessary resources without anybody being able to change that.

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I'm old...and not well. Worried about my wife's finances after I'm gone. She has early dementia.... [View all] albacore Aug 2024 OP

you need to setup a irrevocable trust drray23 Aug 2024 #1

This Joinfortmill Aug 2024 #10

drray23 is spot ON.... democratsruletheday Aug 2024 #17

all of those are available including trusts. do a google search using those subjects. are there any senior centers in msongs Aug 2024 #2

Yes to the will. Selling her the idea of somebody controlling her money is a non-starter at this point. nt albacore Aug 2024 #5

Try an estate manager. sinkingfeeling Aug 2024 #3

Two people Lulu KC Aug 2024 #4

Rather than friends or acquaintances, I would advise your local bar association. lastlib Aug 2024 #21

I'd agree that it's always good to check the local bar association site about an attorney Lulu KC Aug 2024 #23

I totally agree Abstractartist Aug 2024 #6

Call a local social worker. They may be able to refer applegrove Aug 2024 #7

Go to Bogleheads.org. Read for a bit. Look at their Wiki. When marybourg Aug 2024 #8

I concur... Alephy Aug 2024 #13

I just came back to this thread. THANK YOU for the Bogleheads tip. Very useful. nt albacore Aug 25 #27

I have a recommendation, but she is here in Seattle. Might be worth consulting for guidance on options tho pat_k Aug 2024 #9

Do you have an attorney? A trusted banker? Botany Aug 2024 #11

This isn't a situation for random searching. You need a trusted lawyer for every phase. enough Aug 2024 #12

Don't know where you live but I hired an attorney that works with retired/elderly people Deuxcents Aug 2024 #14

Elder law resource TommyT139 Aug 2024 #26

absolutely critical that you get professional help Skittles Aug 2024 #15

I'm really sorry to hear about your wife's situation, yours and the worry you might be feeling. mahina Aug 2024 #16

Very informative n I hope to take advantage Deuxcents Aug 2024 #18

You bet! mahina Aug 2024 #19

Aloha, mahina .. I just now got an email with the pdf version attached! Deuxcents Aug 2024 #22

Thanks for all the good suggestions, DU folks. It's what we can depend on here...good folks. nt albacore Aug 2024 #20

Are none of your kids trustworthy? Happy Hoosier Aug 2024 #24

It's complicated. Both kids are trustworthy.. but... albacore Aug 2024 #25