You have had some great advice. My question is whether you have a plan if you become incapacitated? Your wife could face these same challenges while you are still alive.
My mom took care of all of the finances. When she was diagnosed with Alzheimer's, but before she lost her ability to completely reason, I made sure that my parents visited an attorney/estate planner. Both of my parents executed a Power of Attorney, naming me as POA. I didn't need to use it for ten years, but having it was SO helpful and saved multiple headaches. Truthfully, it was invaluable - and I'm an attorney.
My suggestion would be that you and your wife do the same. If you have a child you trust, giving him/her the ability will significantly help them in the future.
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