so, my mom (67F) is on hospice. we think she has awhile to go, a few years. but she cannot care for herself and is bed ridden. she has care 24/7 that is covered by medicaid. she lives in an independent facility and pays 3k a month on rent. she dislikes it there and is often frustrated and tells me (30F) to “take her home please”, and feels crowded. she begs me to get her out.
recently my uncle died. he left my mom just around 2 million. i have full force POA. she has 180k already which i will keep for her.
i live pay check to pay check, i live a very small minimal life. i never have leased a car and only bought full cash, and drive a 2010 toyota. i have learned to live off not a lot of money with moderate happiness.
i have under 5k debt and ehhh credit. my moms credit is good but she’s retired so i worry about income qualifications for a loan. i have asked my mom if she would like me to get a house for us. she overwhelmingly agreed. i am an only child and will inherent everything of hers and no dad in picture. i have a trust set up and have it so i avoid probate court and that it’s not public record. trying to protect myself.
i’m worried about constructively spending this money. i have hired a realtor (my cousin) and am talking with a lender. i have kept in touch with my moms financial advisor as well and take her advice.
is my best option to buy a house cash? i was thinking 250kish. just wanted to know some opinions as i don’t feel comfortable and feel gross telling others about our inheritance.
my mom never gave me a dime and never told me about my uncles wish to leave us this cash. i’m overwhelmed but feel i need to protect my mom and want to be close to her again.
thanks for listening.
Submitted February 21, 2023 at 08:54PM by purplecandyz https://ift.tt/VA2Cx9T
