Q: How can I stop my sister from spending my mom's money?
Mom has dementia and is in a assisted living home, a very expensive home. My sister is the Executor of the will and I think she may have guardianship or POA. Long story short but when we moved mom we decided as a family to spruce up the family home and rent it out to offset her costs. My sister has now gone into a full blown renovation with moms money at a cost of over $50k and now wants to sell. If she sells the home most of that 50k is thrown right out the window. It was worth $290 before the upgrades and after maybe $325. After paying commissions she will have lost roughly $35k. She has also talked about investing mom's money which scares me to death. Please tell me how I can save any inheritance I may have left. We are no longer on speaking terms, what can I do to get her to stop spending and just pay the necessary bills?
A:
I recommend that you consult an attorney about a conservatorship. Appointing a conservator will provide competent help for your mom with her financial affairs and safeguard her assets. A conservator is supervised by the court and must account annually.
If there already is a conservator in place, the court can assist by reviewing the actions of the conservator, giving instructions or, in an extreme case, removing the conservator and appointing a new conservator.
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