[quote=flyer]Everyone will get old (if they’re lucky–some won’t make it that long) and some will need financial assistance in order to live out their lives–so a situation like this is not that unusual.
However, even though we’ve helped family members and friends with property/financial issues, I can’t imagine getting involved in a deal like this with someone I don’t know.[/quote]Of course, flyer. But what troubles me about this scenario is that OP states his “client” already OWNS a condo with $75K in equity. Presuming it is paid off, why does she want to change things now? The only reason I can see would be to live out her remaining years in a much more expensive locale.
That’s not a reasonable proposition for someone of limited means. There comes a time in life when one must face reality about how the rest of their life is going to look going forward, based upon the resources they have available. And that ship sailed long ago for the OP’s 81 year-old “client.”
