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How to preserve assets for senior who, suddenly, can no longer live alone?

My uncle, who is 89, was very active until last week, and we was sharp as a tack as well. He has his own apartment and was living by himself. He was feeling bad and went to the hospital. His condition worsened, and we've been told he had an aortic dissection. Now he is in the ICU and is struggling to say simple sentences, and no one is sure exactly why; he hasn't had a stroke, according to the CT scan. It's possible that he is having a reaction to some medications but all we have are guesses. We've been told he will never live alone again and that he will need to go to a rehab facility if he makes it through this hospital stay. After the rehab facility would come assisted living.

My uncle's family is ill-equipped to deal with his problems. He has a wife who has dementia and has been in an assisted living facility for years. He has only one child, a grown daughter who feels very uncomfortable taking care of financial matters, including selling his apartment. She has indicated that she is over her head and doesn't feel she can handle all of the responsibilities.

My uncle has some assets, and I am concerned that if he survives and ends up in a facility, those assets will all go to his care. I do not think he set up anything in case of his own need for long-term care. Is there anything that can be done to prevent a situation that may leave nothing for his daughter? Thanks for thoughts and recommendations on a course of action.

2 Answers

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  • Who
    Lv 7
    7 years ago
    Favorite Answer

    Sad that the situation may be, and how much you would;like to help, its the daughters responsibility to get whatever help SHE needs to try to maximise assets

    For her to say she is over her head and doesnt think she can handle the responsibility is frankly pathetic cos SHE is the only person who will benefit from any effort put it .

    So its about time she grew up, cos at sometime in the near future SHE is going to have to deal with arranging 2 funerals and disposal of their assets, or does she expect other people to do all the work for them as well.

    Frankly if it were me I would give her a good a//se kicking

    By all means I would help her, but SHE has to be the one taking the action, decisions and responsibility

    Cos remember - if anybody else takes responsibility and fouls it up SHE can sue them

    And frankly what do you care if they lose all the assets, if the only person who can benefit just cant be bothered to pull their finger out.?

    I would recommend to HER that she gets a lawyer, but if she dont, or cant be bothered, then that her problem cos there is no way I would get a lawyer for her..

  • 7 years ago

    firstly those assets should go to his own care. It is his care after all. Secondly without power of attorney you can do nothing with his assets. The daughter cannot do anything either without power of attorney. The whole thing will end up in probate where the state will decide what to do with the money. Those assets will disappear quickly.

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