Since Congress decided to NOT enact laws that require a financial advisor to act in the interest of the client..not self interest.....I trust NONE of them. They churn accounts to beef up their own bottom line.

Do not forget...their interest is to increase their own profit line...they do this by taking the money from you!

My question is if you convert the life insurance into a long term care, what happens when the patient dies and there is money left in the account. Do I get any back or is it gone? I have about $100,025 in a life insurance policy. Of course I know if I take the cash it is probably only about $40,000. That would be gone in 10 months or less if I put him in a VA facility. He is very healthy aside from the Alzheimer's which he has had for over 10 years now. His mind is mostly gone, but he still knows me and loves me! What to do? I want to keep him at home as long as possible.

One of my sons could use the help of a financial adviser. He's a young man with a wife and family to take care of, but he spends his money like there's no tomorrow. He's recently spent a lot of money on a new house and new furnishings. He makes decent money, but he's not investing his money in any stocks or bonds, and he isn't putting a penny into an account for his children's college education. It seems best to talk to him about hiring a financial adviser to help give him some direction on where he needs to put his money. He's really touchy when it comes to talking about money, so it helps to have a few tips to help me talk him in a way that will make him listen to me without getting him on edge. I'll be sure to include him in the process of hiring a financial adviser so that the person he hires will be someone he can trust with his assets.

The lawyer who drew up the POA and signed it himself (or herself) may also request an accounting from the attorney-in-fact. They may not want to do it, since it is costly in time and money. However, your concerns are valid.

When seeking wealth management services and financial advice, consider an objective, fee-only financial advisor who devises plans that are flexible and uniquely structured to fit your financial needs. Hire a fee-only advisor that has your interests at heart.

i think a tax preparation expert could guide you thru the more basic problems.

Financial Advisors all studied the same books, but may have attended different schools. I like to compare, see the similarities and always know that the ball is in your court. A good F.A. should ask you in the beginning: What are your goals? What exactly are you trying to accomplish? Answers to these Q's usually are: "I want to have enough money to carry me thorugh the rest of my life without going broke." or " I want to pass on X number of dollars to my children upon my death". There are many ppaths to these goal, but always follow some basic rules: 1) Try no to carry debt. The percentage you spend in paying off C C debt outstretches any gains from a savings, IRA, investment, or stocks. 2) Try to keep within a monthly budget. 3) Try not to outspend your income whatever that may be. Don't fall for scams or high yield promises.
You're either a numbers man or a percentage man. I like numbers.

I would avoid any financial advisor that works on commission. There will always be an inherent conflict of interest present. They make their money by selling you products that are financially advantageous for them, not necessarily what's best you for.
Fee based planners are free to recommend products that are in your best interest. Many will charge you by the hour, which is the best bang for your buck.
Or better yet, educate yourself and be your own financial planner. It's not that difficult. You only need to read a couple of books. I recommend: “The Only Guide You'll Ever Need for the Right Financial Plan: Managing Your Wealth, Risk, and Investments” by Larry Swedroe. and “The Bogleheads' Guide to Investing.”

I would check with an elder care attorney regarding your questions. It sounds like it's a legal matter that needs to be analyzed for your own benefit. Good luck!

What can I do if I beleive one of my siblings is taking advantage of my mother financially? If this sibling has power of attorney, can I still request proof of where my mom's money is going?