Please help me help my MIL

[Griffers]

Do not bring up moving.... the death of a spouse if the largest stress item one can have.... moving is way up the list... do not put stress upon stress....

Also, I would suggest that she find a grieve group... had a sister (and even a dentist) go to them after the death of a spouse and both said it helped a lot... both said it took a year or more to 'get back to normal'.... maybe some here can give more info on this....

Yes, I agree 100%. MIL had brought up moving (not us) and that's when I recommend she wait on that decision so she could stay close to her support group. She has church friends and some new friends she gained while her DH was on a transplant wait list. Staying connected with these friends is going to be much more important to her than her finances right now.

My hope is to help her be at ease with regard to her financial situation (i.e., let her know that she doesn't have to worry about running out of money) and to also help her be at ease with how that money is invested.

 

[pb4uski]

One thing you could do is set up the Wellesley account to do an automatic redemption of $x per month into MIL's local bank accounts to supplement her SS income. I helped BIL's mom do this and she is thrilled with the arrangement.... like having an annuity with better performance and much lower cost.

 

[Griffers]

I'll definitely look into a monthly payout plan, once we figure out where all the assets should be. I think it would keep her from worrying about how much and when she should withdraw.




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[Newventurer]

One thing I don't see referenced is updating her will and Trust and making sure that all accounts roll into her trust (if it exists) to the extent possible to sidestep probate of her assets upon her passing.

Having just gone through a similar situation I am still finding accounts that need appropriate beneficiary designations - bank accounts, car insurance (with life insurance riders), IRA's, real estate, etc, to insure they properly roll into the trust without headache.