My father is 74, he is retired. He inherited ~1.5 million usd from his parents. he has that money invested into an annuity, from which he receives over 5,000 usd a month. he also collects social security, and has a very small retirement from working at american airlines. overall, his monthly income is more than 6,000 usd.
He lives in Utah and his rent is just under 1,400 a month. He is having trouble paying his bills, he cancelled his cable subscription because he couldn't afford to pay 300 usd per month for it. he always has trouble paying his income taxes. He also regularly brags about wearing 2,000 skiing outfits. he claims all of his skiing outfits cost that much.
He asked me if he could use my address (I live in california) as his place of residence so that he can avoid paying utah state taxes. he wanted me to send all of his bills, mail, etc. to him in Utah. I told him I couldn't do that because I did not want to knowingly assist him in committing tax fraud. his immediate response was to remove my phone from his verizon plan after sending me a text message saying he does not want to speak to me and that I'm not welcome at his funeral.
He has grown increasingly stubborn and mean in the last few months, I'm worried that he either has some sort of mental illness, like dementia, or that he has gotten himself into some sort of debt or drug abuse problem. What should I do if i think he's not capable of managing his finances? is there anything I can do? any advice or information is appreciated, thanks for reading.
edit: it looks like I may have too many messages to reply to at this point. thank you to anyone who has read this, and anyone who has left heartfelt or useful advice. I really appreciate it. I'll try to read through everyone's advice/comments, whether or not I reply. again, thank you.
Edit 2: a few people have suggested contacting adult protective services. That sounds like a good place to start. If he will talk to me again I'll ask him to get a mental health check up, and consider giving my uncle access to his financial accounts to figure out what's going on.
Also to clarify, he Inherited 1.5 million and that amount was invested into an annuity. I do not know if my brother and I will inherit the annuity when he passes.
Thanks again to everyone who made helpful suggestions.
Submitted April 01, 2019 at 07:38PM by SephirosXXI https://ift.tt/2VbXZC8
