I have Durable POA and could step in if need be. My dad is 90. He keeps reading info on the internet and fears that he and my mom's money will be taken from them. So he's looking for a safe to keep all their money in the house. OR he's looking for switching all the money into Swiss money -- or gold. Aagh!!! He is a very brilliant man who has lost the ability to do everything that gave him purpose in life (fixing everything that needed fixing in the home, teaching, etc.). So this is his way of "being in control." All that this does is cause friction between my mom and dad, and I can't help him listen to reason.
He was tested for balance issues by his neurologist about 8 months ago (CAT scans, but not MRI) and was found to be clear of Alzheimer's. But I realize that can change at any time.
I feel like I'm having to be marriage counselor as well as caregiver to both of them. When is the point that I need to take financial decisions away from him?
Have used it several times. Sold a house, cleaned it out, hired someone to go through everything, She rescued many pictures from 4 generations of family.
If mom had any money to worry about, I would go see a lawyer for advice. She is gradually using up the last few thousands of savings and then we are. Looking at medicaid in the next year. Still researching what I need to do. Heard on the radio today that Obama tagged a 57% task on money people leave to their kids.
You gotta get help putting it in a sheltered account where the gov. Can't take it from your family!!
For example a small farm is well over 1 million when you consider land, buildings and equipment. This is a agri grab by the gov. Can you imagine a son having to come up with $500,000.00 to keep the land that he has worked on since he was small.
That said Im still pleased with the 418% that I have gotten from my investment and on average about 37% a year beats any other investment market. I love the fact that the gov cant inflate my gains away also.
The MyIRA plan that O is offering at 2.2% doesnt even keep up with real inflation and you lose about 7% value of actual PPI (purchasing power) a year with it. Inflation is just another way that they try to punish savers. Its not gold that changes value for the last 5000 years but currencies that change purchasing power.
Is this joint money? Is mom's names on all accounts? I presume nothing can be changed without her consent? Would they agree to splitting their funds so Dad can do whatever foolish thing he wishes with his funds, preserving mom's in conservative investments or however she wants her part of the money to be looked after?
wills.about/od/understandingestatetaxes/a/futureoftax.htm
I dont think it is fair to Mr. Durden to claim his site is a "conspiracy theory" blog without giving an example of what you are basing your accusation on. A citation would be helpful.
I have not run across "theories" in any of his articles and miss the good old day when all these events were still theories.
The MSM has been a farce since exposed in the 50's with Operation Mockingbird. I highly recommend that you do some research so as not to mislead others till it is to late to update their planning.
"Babalou, they are trying to drop that to 1 mill. " (previous page)
I have not researched this topic further because it doesnt apply to us. We have all hard assets in a trust set up by an Elder Law firm. I recommend everyone do their own research based on their individual circumstances.
Thanks,
Pana
Do you not find the timing of this a bit curious? Washington gets caught dropping weapons to ISIS for the second time (the first was claimed to be a mistake) and McCain is caught crossing the border illegally for a pow wow with them, Hollande announces that all sanctions should be dropped against Russia and 2 days later we have a terrorist attack based on another social media cartoon. The 18 year old they claimed was with them has stepped up and said I have wittnesses that I wasnt even near Paris at the time.
Im watching the news and they seem to think that we should believe that it takes 4 helicopters, 100 armored military vehicles and 2000 heavily armed men to secure 2 men?
Theatrics! This is why the French people are flying signs saying "Not afraid" Most understand that this is meant to instill fear and arent buying it any more.
80% of the people hit by washingtons drone strikes are civilians but yet they expect us to believe that the recent terror attacks in France are because of a cartoon. That new Common Core curriculum seems to be working just as planned. : /
Fear seems to become more real and threatening when we age and are more vulnerable. If you can empathize with his concerns and tackle the finances together (possibly with some trustworthy assistance) then his fears will be diminished. I would suggest not allowing him to watch FOX news as they are the ultimate fear mongers.
That is where you start to safeguard assets. If he wants some money in gold, there are MANY legitimate advisors out there who are warning against banks (put the cash he needs immediate access to in a credit union) and who also recommend that 10 to 25% of investment assets be in gold in one way or another. Gold is also not looked as a way to make money, but as a way to protect assets and have tradable assets should everything fail. The world wide situation is NOT good...no matter the politics. And our government is NOT necessarily the sweet little wonderful organization that most average Americans think it is. All countries are in a downward spiral economically and all countries, including ours, are playing dirty games, trying to keep their countries above water. WE, in America, have more to lose because as soon as we lose the dollar as the recognized world currency, we can no longer print money freely to keep the numbers looking good. So from that perspective, our country is really a little more desperate than many of the others. And there IS a big push to force a change to which country control the world currency and a big push to drive the dollar down. It's all evil. It's all dirty. And it doesn't really matter the politics or 'sides' in this matter. Very few are trying to fix anything in a moral, ethical manner. You have to safe guard your own little part of the world where ever you are! And, for many of us, get a lot closer to GOD.