Archive for March 12th, 2009|Daily archive page

Financial hell

I’ve been all aflutter today worrying about Mom’s money. Like, I have butterflies. And I woke up in the middle of the night last night. All but two annuities have been accessed, and these are two that Mom set up with companies that appear not to have local offices at which to do face-to-face business. So I have been expecting that retrieving these last two assets would be terribly difficult. And as a result, I just obsessed about it and hadn’t done anything about it. Until today.

The first company I called was wonderful. Just fax the Power of Attorney document, get the assisted living facility staff to fill out a nursing home waiver indicating this money is needed now and not when the contract expires, and you can fill out a form to surrender the full amount and pop it in the mail. Not too difficult. Even if the waiver isn’t approved, the surrender charge is not extravagant and won’t put too much of a dent into the fund.

The second company was not quite so easy to work with. I have to get Mom on the phone with them to state her name, address and last four digits of her social security number. I told the fellow that I would be telling her these things to say, but that I think she will be able to state them by repeating after me, or better, reading what I write down. That will be fine. If she can’t do it, I have to apply to stand in as a representative of an incapacitated person. And no matter how she does, I have to fax my Power of Attorney document. And I have to fill out one of their Power of Attorney authorization documents, too. It sucks, but it’s doable. And I have taken that all important step of finding out what I have to do so I can stop worrying about the unknown.

I also applied for a copy of Mom’s birth certificate online – that document will be required for the Medicaid application. And I actually looked at the Medicaid web site. Approval should be decided within 30 days of applying, so I have some time. The application is long but not horrendous. I feel confident I have all the other documentation I need for that, but I’ll know better once I actually collect the materials in one place. Eventually, I suspect I’ll have an interview with an actual staffer who will give me the true lowdown.

The way I see it now, Mom has enough money to pay for assisted living through July, presumably meaning she’ll be moving to the nursing home side of her facility sometime in August. Still a ways off, but closing in fast. That will mean more furniture moving, more storage, more sorting through Mom’s things. And of course, there are more unknowns, primarily how Mom will do with the move. There’s nothing I can do to prepare myself or her for that, really, so I’ll just have to suck it up and hope for the best.

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