Asking Eric: Mother worries about care for her disabled son after she’s gone

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Dear Eric: My psychologically disabled adult son who also suffers from chronic physical illnesses will live with me for the remainder of my life as I care for him.

His medications, doctor visits and hospitalizations with multiple surgeries take up most of his monthly disability income. I was informed by my attorney to have an executor of my will selected in order to allow him to continue to get his disability pay so that his assets would not show over the required amount.

Most of the people I know that could do this are my age (70) and all of us could die leaving him in a predicament. My younger friend in her 40s is an ideal person for this but she is hesitant to take on such a role.

My understanding is that when he needs money, he would call her, and she would simply deposit that money from my account to his. The bills would be auto-paid. Everything else is in trust. I was also told a bank, or financial planner could take this role but would charge high fees and my son’s severe social anxiety would not allow him to communicate with someone not known to him. Do you or your knowledgeable readers have any suggestions for me?

– Concerned For The Future

Dear Concerned: I talked to attorney Lindsey Weidenbach, who has expertise in a number of fields, including estate planning, to get some best practices for people in your situation. While, of course, she couldn’t provide legal advice, she helped me to get a better understanding of the factors at play. She pointed out that estate programs can last for years, requiring significant mental capacity and time to manage, including making an inventory of assets. So, part of your friend’s hesitation may be related to the scope of the duties required of a will’s executor.

I’m curious if you’ve discussed the option of making someone a trustee of the trust, which may have a much more limited set of duties – i.e., the phone calls from your son that you outlined. This also would provide a check and balance system that doesn’t involve your friend accessing your account.

It’s also possible that your friend sees the amount of care that you provide and is unsure of her ability to take … Read More