Find Senior Care (City or Zip)
Join Now Log In
M
momslife Asked October 2012

moms fiduciary my sister and I were poa for mom; she is now incompetent with dr. agreements now sis and I put fiduciary as trustee ;

fid. is over spending the ltc. long term care it will deminish in a year and a half, so she will use our beneficiary $'s? can she?

OncehatedDIL Dec 2012
Momslife, is the concerns that the fiduciary will end up spending all of your MIL's funds on her care?

momslife Dec 2012
The problem is that the fiduciary also has a responsibility to the beneficiary if i understand what i have read. But the purpose of the LTC is that they have $ for about 6years when unable to care for themselves( now herself). in home care 24/7 LTC only pays $260.00 a day. (as if mom was in a good facility) ($6,000.00 a month). mom has at least $18,000.00 a month in care giving alone. not to mention bill etc..with all people in home and caring and paying for all's food etc..,and fiduciary bill and now her trustee bill of $ at least $500.00 mo. She has not given us an estimate after our meeting on nov.16th 2012."which we have requested.
what I read is the fiduciary has to respect the trust (mom) and do the wishes that she had....but at this rate mom will live at home for? and all depleted then after selling home what and how will it be paid?

ADVERTISEMENT


ADVERTISEMENT

Ask a Question

Subscribe to
Our Newsletter