NT-Need Ideas on How to Give Away Money

[JohnH]

Got your attention didn't I?

Actual situation here - no games being played. Client is executor of an estate and is required to give several thousand dollars to a friend of the deceased (Let's say around $5K for conversation - it could be more or less). The friend is very old but still capable of getting around & handling their affairs for the most part. Problem is, the friend has no checking account and doesn't read/write very well (maybe not at all).

Client wants to pass the money along and is trying to figure out if there's a responsible, compassionate way to handle this which would serve the best interests of the recipient. Obviously the recipient can cash the check and hopefully not be swindled out of any of the cash by friends or relatives (this is a known possibility), or risk being robbed. The only thing I've been able to come up with is prepaid debit cards, but that also has its problems.

I know this is an odd question, but just curious if anyone has any input. I'm at a loss.

[Peachie]

Does she have

Got your attention didn't I?

Actual situation here - no games being played. Client is executor of an estate and is required to give several thousand dollars to a friend of the deceased (Let's say around $5K for conversation - it could be more or less). The friend is very old but still capable of getting around & handling their affairs for the most part. Problem is, the friend has no checking account and doesn't read/write very well (maybe not at all).

Client wants to pass the money along and is trying to figure out if there's a responsible, compassionate way to handle this which would serve the best interests of the recipient. Obviously the recipient can cash the check and hopefully not be swindled out of any of the cash by friends or relatives (this is a known possibility), or risk being robbed. The only thing I've been able to come up with is prepaid debit cards, but that also has its problems.

I know this is an odd question, but just curious if anyone has any input. I'm at a loss.

any investment accounts that could handle a deposit? What about opening a savings account for her? What about savvings bonds?This is a nice gesture for the recipient.

Peachie

[origun]

Prepaid utility bill

What about pre-paying electric, cable, phone and/or other utility bills?

[Lion]

AmEx Checks

American Express gift checks.

[taxea]

Does this old friend need the money for support? If so I would prefer the idea of pre-paying the utilities. Debit cards and gift cards can be stolen or scammed. Doe this friend handle his own bills or does a family member perhaps?
Or possibly as the friend what he would like done with the money. I know this is no way the responsibility of the person giving the money but a little kindness never hurt.
If the friend does not need the money for current support then a savings account or money market account in his name at a bank very close to him (so he can withdraw easily) sounds appropriate.