I have visited the local facilities a few years ago)I can’t take him anywhere without help–and he often refuses to leave the house anyway. Took a few tries to get him to the DMV. They were too expensive then and are more expensive now–I know this because of my mother’s annual fee increases (her facility os one of the ones I looked into).
It’s not as if he’s capable of expressing an opinion or even understanding why we’re there. He doesn’t like being in unfamiliar places.
The hubster’s personal assets are his IRAs.
The hubster’s personal assets are his IRAs.
If he is truly non compus mentis, as seems to be the case, you should arrange to become his custodian. Talk to another attorney. For your protection and his. (I doubt he will contest anything.)
There is nothing magical about waiting until age 72 to take withdrawals from an IRA. You can start now. (If your income is low enough, that would seem to make sense.)
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Actually, taking out regular amounts is a good idea. It’s sort of like dollar-cost-averaging, except in reverse. That way you aren’t forced to take funds out when the market is down (e.g. if you did your annual withdrawal now, you’d take a hit compared to what it was 6 months ago). I’m planning to do it quarterly, but that’s sort of arbitrary. I could do it monthly. I don’t think there’s a wrong answer in that regard.
You might also consider building a cash position as a cushion against bad markets. I don’t know how much you’re getting from SS and RMDs. If the tax situation allows, you may find some advantage to doing that. Consult a tax person for specific advice (I’m just hand-waving here).
Also…I’m not being facetious…you might consider getting these:
https://www.chewy.com/earth-rated-dog-poop-bags-refill-bags/…
Toss in the trash instead of clogging your toilet. He is basically like a dog who isn’t housebroken now. Glad the Depends are working for you now, doing what they’re supposed to do.