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First, I applaud you for accepting the role of financial rep and POA; this can often be a difficult position for friends and family members to find themselves in.
Now that you have this role, you must make the difficult decision as to when you need to step in to the fray. It is sometimes difficult to know when the line between generosity and vulnerability has been crossed. If you and your friends physician believe that she is competent and able to make decisions then it is more a matter of guiding these decisions versus stepping in and having to take over.
That said, I would sit down with your friend and devise a budget together. Let her know that you take your role as her financial rep seriously and together you need to look at her needs now but as importantly into the future.
Once a budget has been put together come up with a figure that your friend can afford to use as discretionary money (that is money she can give away as she wishes). As long as she is competent she should be able to use that portion of the money as she wishes. Again, this should be budgeted so that you both can keep a clear record of where and how it is being spent.
Please let me know how this works.
Carla MacGregor
Transitions, Inc.
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