Protecting Elderly Mom's Sale of Home

[BigPapi11B]

My mom just sold her home of 42 years [under 250K] and would like to live off it.

My mom has a tendency to give out monies way to easily and wants to make sure she can be protected from "herself ".

We live in Massachusetts, who should we see first?

How can this be setup so she can have some fun money and at the same time generate an income she could use to help supplement her SS ,for living expenses? What is the name of your state (only U.S. law)?

 

[tranquility]

Unless mom agrees to conservatorship or mom is legally unable to care for her own finances, there is nothing to prevent her from spending HER money as she sees fit.

 

[curb1]

Buy U.S. Treasury bonds. Ladder them $50,000 in a one year, $50,000 in a two year, $50,000 in a three year, $50,000 in a four year. Then when the one year comes due buy another four year etc. She would be getting payments every six months from each of the bonds. That way she would be getting regular payments but the principal would be protected. If need be these bond can be cashed in/sold at any time with no penalty.