Quote:
Originally Posted by CliffFletcher
I understand this is probably the best approach financially. But as the person holding enduring power of attorney for both my parents (my dad is in a care home), I’m concerned about the ethical and legal considerations of drawing tens of thousands of dollars out of my mom’s financial assets and gifting it to me and my sister. My parents don’t have the capacity to make financial decisions of their own, so they can’t really give consent.
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I have this exact situation, but assuming your elderly parent is in a lower tax bracket than you, it's not horrible that they continue to hold their investments.