He has a daughter that came out here from Colorado when he was admitted to the nursing home. He still wants me taking power of attorney for him, but now that he is getting sicker I don't know if an attorney will set it up now. I got a surprise when I went through his documents at his apartment - he was a poet in his younger days. I took some of his writings to him a few days ago and it seemed to cheer him up.
Old folks like to go out on their own terms. Young folks tend to focus on prolonging life for the sake of it. Don't pity or coddle the guy or be phony... just treat him like you always did until the end. Hard to do if you see the writing on the wall ...but that's the point.
The daughter came to get his money. It has also crossed your mind more than once (power of attorney, etc.). Who is going to win?.
Ask the dr if hospice is reasonible for him... they know the ropes here. What to do, how... and when. How to talk to your friend, his family, and you. Guided me thru my fathers passing recently. Hope there is time... all the best.
Rereading this it seems that your intentions are good but I didn't catch that there was a million $ estate. Why would you be telling everyone here if you were trying to screw the old guy,,right,? I'm assuming if the guy was a pauper you would still be taking this noble interest. The daughter should not be vilified because money is involved and the old guy's wishes need to honored. God is watching, be honorable.
He passed away a couple of hours ago at the nursing home. I'm going to have a few drinks tonight and reflect on the things he taught me. Live frugally. That was the big thing with him. Don't waste a thing. I was there by his bedside when he drew his last breath. We had been friends since 1990.
Trying to keep up the same routine I've followed for years and updating my weekly diary and reading Barron's magazine. I know he would want me to keep right on working and keeping my eye on the ball but I just keep choking up. Do you remember back when the exchanges started re-opening after 9/11? One of the news organizations was interviewing someone with Cantor, Fitzgerald about getting started again and he said something to the effect of, "Were not Hollywood, were not actors and musicians", and how they were trying to get their work done. He of course meant that there wasn't time to sit around strumming guitar, singing ballads and wallowing in sadness. But I just can't fucking help it. I've always known that I'm an overly sensitive crybaby, I've alway know I shouldn't be, but it's there and it's real. I left home when I was only 17 years old and I've been strong and independent ever since, but once in a while something will come by and knock me off kilter, this is one of those times. I'm sorry if I'm dragging the board down, I really don't mean to. I probably shouldn't drink anymore tonight.
Sorry for your loss. Maybe it would help to write a book about his life? It wouldn't have to be entirely accurate. It could be more of a tribute. Somthing like "An Old Trader's Diary - Succesful trading and investing in an uncertain world." Good trading to all.
My father was the same way. I think these old guys that lived through the Depression became very thoughtful about everything they had, and grateful for it all. My condolences.