Quote:
Originally Posted by LivingAlmostLarge
What if your father needs the money?
Plus I wouldn't want my mom to give me money knowing that it could make a difference between a FANTASTIC nursing home and just an okay one.
Knowing that she could have afforded instead of giving all 4 kids $50k each, she could be living in a very expensive, exclusive assissted living facility.
But maybe I'm a weirdo. I don't want my mom's money, I think she should spend it on herself. And yes I might turn down help like $50k depending on how much she had and if she could afford a great facility with the extra money.
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Thank you for posting this. This is a dilemma that my wife and I face constantly and I don't think I've ever posted about it here. My mom, who will be 78 on Saturday, is always wanting to give us money. She sees no reason to keep it sitting in bank accounts and investments when we could be using it now rather than waiting until after she dies to get it. It is very generous of her, and I appreciate that, but the fact is I don't want her money. There is no way to know if she will need those funds during the remainder of her life. If she gives it to us now and we park it in savings, we could always return it later if needed. But if she gives it to us and we spend it, then what? I do like the idea of getting it in my name sooner rather than later to avoid it all ending up paying for a nursing home, but she does have LTC insurance so that isn't quite as big an issue (though I know the policy wouldn't cover 100% of costs).