Trying to figure out how to financially advise my recently widowed Mom

[Blazing Stash]

Hi everyone,

First time post, long term reader. I'm 26, been working two years as an engineer, getting my head into all of the concepts of Musachianism which I'm mostly very on board with. I will make another post on all my questions for my own life another day, but sadly my Dad (64) just passed away and I'm trying to figure out how to financially advise my Mom (66). We are all from Canada, and they have been living long term in France while I work in Ireland.

I have known they have always lived financially on the edge which we had been disagreeing about lately as I have become more conscious of such things. However I didn't realize to what extent until now as I have had to step in and assess the situation since my Dad handled this side of their life.

They were still both working as freelancers and loved their work, with no intention to stop, and my Mom tells me she can now can expect to pull in the ballpark of 20k-28k euros after tax depending on how the year goes.
They have effectively 0 savings, and a very negligible pension coming in that I couldn't even get a number on (I think a couple thousand a year, I will try to clarify).
They own the car, but no house, paying currently 1400 a month in rent.
Expenses for phone (which will go down after I change it), utilities, food currently coming in at 400.
She will soon receive a 250k CA$ life insurance payout from their provider in Canada, which will go into a Canadian bank account, and this is the main thing I want to handle properly.

I see two main points here:
1) I need to figure out how to convince her to get her expenses down, and probably move to somewhere cheaper. Buying something seems fairly out of the question.
2) What should be done with this life insurance money? At this age and situation, does the whole ETF / mutual fund story still apply?
I'm worried about the logistics of it being put a Canadian bank account, but taking the correct action to maximize the usefulness while living in France.
3) What is the best route to getting her to a place where she can be safe for when she eventually will no longer be able / want to work?

Thanks in advance for your help and advice.

[Chrissy]

I'm so sorry, Blazing Stash.  I'm not Canadian, and I think you need one to weigh in about how to handle the life insurance.

Does your mom qualify for CPP or OAS?  If not, can she make a claim as a widow to your father's benefits? 

[gaja]

Have they lived in, and paid taxes to, France long enough to have any rights there?

[wordnerd]

I'm so sorry for your loss. I don't have advice on the Canadian aspects. I would approach the idea of moving cautiously at this point. Perhaps you can talk about whether it would be good for her to be near a family member or close friends but I would be careful not to uproot her from her routines or social connections. Do try to take care of yourself while you grieve as well.

Wishing you peace. Hopefully others can provide feedback on the financial aspects.