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My MIL is intermittently ‘nutz’, both borderline psychotic and some dementia. (There are some good sides to this, MIL forgot her daughter had serious cancer surgery, but she also forgot that they have not got on well together for 20 years.) Some days are better/worse than others. My ‘Lucky’ BIL has a power of attorney for some financial issues and my wife has dual access to some bank accounts. But time is not on our side, I am asking for others advice from their experience of fully taking over the management of a parent’s assets. I do not expect we would have to go to court in some adverse way, she already delegates most decision to DW, BIL (only children) and myself. There is only one big financial issue looming and that is sale of her house, we recently relocated MIL to a senior residence to be near us. But she ‘doesn’t want to give away’ her house and bristles that it is not selling for what she saw houses selling for over the last year. Doesn’t trust the agent or her son but that is another issue. BIL is a good businessman and a good son and has her interests in mind. Besides if her assets get exhausted it is he & DW who will be writing checks to cover MIL’s expenses. MIL’s assets are quite adequate to cover everything up to an extended time in assisted living.
Anyone have experience with this kind of situation? Just trying to understand the legal, medical & emotional issues.
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“There are only two ways to live your life. One is as though nothing is a miracle. The
other is as though everything is a miracle.” - Albert Einstein
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