I
IDWright Asked September 2019
I am on my mother's small savings account. Should I move the funds to my personal account before I seek guardianship?
Follow
Share
I want to make sure that I have ready funds for her. I am afraid the account will be tied up with the court. I do not trust the courts. Right now, she is in a rehab facility and I want to make sure I have enough to move her to a short term facility when necessary while I settle her house. I know her house will be tied up.
This question has been closed for answers. Ask a New Question.
3 Answers
A
againx100 Sep 2019
No reason to complicate your life by moving the money. Just write checks from her account for her care.
Helpful Answer (0)
Report
B
bicycler Sep 2019
Since you're already on your mother's account, you should have no problem paying her bills with that account while awaiting guardianship. I did exactly that with my dad's account, although I wasn't actually on his account, but shared financial and health DPOA with three of my siblings. Be careful to keep an exact record of every transaction involving your mother's account. Best wishes.
Helpful Answer (1)
Report
Guestshopadmin Sep 2019
If you move funds before you are guardian it could be seen as conflict of interest or cause problems if you seek medicaid for her within 5 years of the transfer. Best to leave funds separate until it’s granted.
Helpful Answer (5)
Report
This question has been closed for answers. Ask a New Question.
Popular Questions
- I'm afraid my sister is trying to steal all of my mom’s money by being on joint accounts with her. What can I do to protect my mom?
- What is the reasonable amount for a child to receive as payment for caring for their elderly parent?
- The nursing home is holding my Mother "hostage" with a POA that was forged. Any help?
Related Questions
- As my brother's guardian and conservator, am I allowed to write checks in his name?
- My mom has dementia (90) and was recently admitted to a nursing home. Does anyone know how selling her cooperative shares works?
- How do I get a full accounting of my mother's assets from her conservator? I only received a partial, not all assets or bills.
- What do you do when a grown child wants to control your life, friends, access to the world, and MONEY?
Ask a Question