Hello Mustache Community,
This is a weird one. I know a lady in her early 50's (let's call her W) who should be getting somewhere between a few hundred thousand dollars and maybe half a million dollars in a settlement sometime in the next several months. It should be at least four months away, perhaps as much as a year away. She is in Virginia.
W is, hmm, not quite sharp. She has been damaged by childhood trauma and taken advantage of as an adult. She's not quite mentally challenged, but I would describe her as somewhat feeble-minded and susceptible. Once she receives her settlement, I am concerned that given her history, she could be easily fleeced or conned out of large sums. W is open to the idea of having a trustee, if that is even the correct word. This trustee (presumably employed by a company that has expertise in this area) would have all or some control over W's nest egg, with perhaps an allowance every month and flexibility to ask the trustee for more. Then the trustee would make sure the request isn't to fund some unscrupulous boyfriend's spending spree or flight money.
I'm aware that there are companies who do this for the elderly, since they can become more vulnerable to scammers as their mental capabilities decline with age. I am considering trying to find a company/person/agency/what? to provide a similar service for W. Although W is not elderly, she seems to have some of the same vulnerabilities as an elderly person who's lost some of their faculties. Again, W is open to this idea as she is aware she's been conned at various points in her life. I wouldn't push the idea on her if she were to push back. And I don't want the conflict of interest of doing it myself.
Does anyone know how to find an upstanding, fairly priced service like this? I don't even know exactly what it is that I'm looking for, which is probably obvious. Thank you for any suggestions.