We had a client who was a mother of eight children. The children frequently visited her during lunch break and on weekends. They observed how their mother’s quality of life declined due to her health and decided to chip in $150 per week each to hire someone to live with her. They were very happy that mother could continue a productive, healthy and happy life style until she passed away. All eight children were very sad when their mother passed away, so they decided to keep her little house for family gatherings and for family members who could use the house.
We had a client who was a mother of three children. As their mother aged, she was incapable of helping herself. The children promptly visited her for the holidays. On one holiday, the mother told her children that she was no longer able to prepare a holiday dinner due to her deteriorating health. The children realized that they need to hire someone to take care of mother. They looked at their mother’s assets and were very unhappy to see that most of the remaining money was going to be spent on their mother’s care and that they may even need to take out a reverse mortgage to afford a live-in caregiver - all which cuts into their inheritance. The three children were very unhappy when mother died. The children sold the house and shared what was left.
Love your family while you still have it.