I'm trying to understand and do the right thing. What's fair?

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bianca00 Asked February 2014

I'm trying to understand and do the right thing. What's fair?

My grandmother never made a will. She currently has a property that my grandfather gave her before their divorce,because of her condition family members are trying to sell it as they please and take the money. I have a power of attorney and for that reason without my signature they can't do anything. I want to be as fair as I possibly can even thought I'm not a daughter and will 'not receive anything from this. It just seems unfair that nobody was there when she needed care or assistance but now everyone wants to ask for their part of the money. I'm her 24 year old granddaughter who has been there since I was born all the way to today that she's currently living with me. I don't know what to do or who to trust and truthfully I don't want to be part of anything that has to do with money,unfortunately I'm stuck. I don't know if I'm better of selling the property or just leaving it there. I receive calls everyday regarding the matter.

Please help & thank you in advance for your help. I really need some guidance, I have no one to count on.

Financial Planning

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score 0 · Answer 1

Thank you all for your help. I'll go with my gut and try to stall them from doing anything. They're very wise and know what they're doing. I will fight for her until the end and do the right thing for her. It's amazing how people just turn even on their own parents just for money (It's a shame).
Again, thank you. :)

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score 1 · Answer 2

Tell them firmly, the land is not for sale. If she has some money, spend it preplanning her funeral. It could be $7,000 or more. She may need nursing home care and that is what the land is for. Tell the family, it is not theirs. Period.

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score 0 · Answer 3

I should have said "the transfer of the money for the property to the children."

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score 4 · Answer 4

pstegman is right. The property is your grandmother's, and any proceeds from the sale of it are hers. The children will just have to wait until she passes to see if anything is left. Do not let them have the money now for the reason pstegman wrote. If your grandmother needs Medicaid, she would be penalized for the transfer of property to the children. (You can tell your aunts and uncles that if they ask why you won't sign for the sale.) Your instincts that something is not right are very good. I'm glad you're watching out for your grandmother.

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score 6 · Answer 5

Bianca tell the vultures to buzz off and if they don't hire an attorney. If grandma needs a nursing home, every penny has to go to paying for her care. The vultures want to sell it, take the money and dump her on Medicaid. However Medicaid is not stupid and they won't pay when the assets have disappeared. You are wise beyond your years. Trust no one who asks about selling.

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score 2 · Answer 6

Have your POA registered on the title to the house, then no-one can touch or sell it without your signature.

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score 0 · Answer 7

And BTW, an attorney can help or even become or designate another POA. Look into it. I thought me being 36 was a bummer I can only imagine how you feel. Sorry girl.

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score 0 · Answer 8

Does she have any liquid savings? And no they can't take anything until she expires.

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score 0 · Answer 9

Attorney it is. Thank you

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score 0 · Answer 10

POA - Power of attorney, It took me a while, sorry. To my understanding I'm legally authorized to either sell it or let it stay under her name until she passes away. In which case family members who haven't been seen for over 10 years will take the part that legally belongs to them. If I sell it the same thing might happen. I just don't want to have nothing to do with this whole money situation. I don't know what to do. Would I be better off selling it or just leaving it at is?

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score 2 · Answer 11

Power of attorney. I just read your other posts. Sorry about the Alzheimer's. So obviously its too late for her to do anything. I believe that if you sold the property the proceeds would not go to family members as she is still alive. And if she was it would go into probate. That money would be able to be used for her care from which I believe she needs. I would recommend seeking advice from an attorney.

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score 0 · Answer 12

I'm sorry for my ignorance but what's a POA?

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score 0 · Answer 13

Power of attorney doesn't necessarily mean they can't do anything. I have POA and my gram can still write her own checks etc if she so choses. You should check w the attorney who made the POA and see .

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I'm trying to understand and do the right thing. What's fair?

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