My mother of 89 years old moved in with me on June 2022. She can no longer shower or care for herself without assistance. She had some money in her savings and checking accounts that is now depleting rapidly for private caregiving services. She appointed me as her POA Medical/Durability. I have to work full time to keep my home mortgage and pay bills. She was diagnosed with Severe Vascular Dementia. I Only receive $200 - $300 per month from her to pay for Pampers, toiletry supplies, groceries and, entertainment. Several people have told me to charge for rent but, that will only deplite her finances sooner and, she will not have anything to pay out of pocket for Caregiver Services. Any advice on what to do next. I project that March/April of 2023 she will have less than $5,000 in the bank. I cannot afford to pay for her Caregiving Services.
Thanks from Texas
Marylisa
Be sure to educate yourself about what the last of her money should go to during the spend down process. You want her to have prepaid her funeral expenses, as allowed, and to have any eyeglasses/dentures/medical equipment up to date.
It sounds like running out of money is inevitable. Charging rent might make it happen a few months earlier, but at least you’d have a little money to set aside in your own pocket for whatever small purchases might make life more tolerable after her money is gone.
Have you applied for Medicaid?
Have you had a Hospice evaluation?