How Long Will Dad's Money Last?
QUESTION: "My father-in-law is a widower and living alone. He’s in his late 80s and falling frequently. He’s not interested in leaving his home, and due to his need for in-home care over the last two years, his money is dwindling. I believe that he may only have about $150,000 left, plus his home. As you know, that money will not last long if he needs round-the-clock supervision. Father-in-law seems to be prepared to spend every penny of his money on in-home care, or he expects the family to take care of him. He refuses to look at moving, or an assisted living situation. Frankly, I don’t know how much longer we can manage him at home. How do families deal with this situation?" - READER
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