Find Senior Care (City or Zip)
Join Now Log In
L
luvmum1958 Asked May 2015

Have POA for Mom who asked me to buy a house with proceeds from sale of her house. Should I tell my siblings?

She's been living w/me in a rental house for over a year but wants the permanence of owning a house. Wants to be able to paint a room if she wants to (her words!) She wanted me to just pay cash but I did not want to use the majority of the funds that will be for her long term care when I can't take care of her at our home anymore. So I put a good amount down that left me with a mtg payment $500 lower than the rental house. In the rental she paid about half the bills but now I can pay the mtg & upkeep myself leaving her to only chip in for utilities & her 24/7 oxygen. Not sure how my brothers will react. She has age related memory problems but is still what her attorney considers "of sound mind". Because I have better credit than she does, the mortgage is in my name.

gladimhere May 2015
If mom is competent why was POA necessary to buy the house?

MaggieMarshall May 2015
I'm in agreement with those above. YOU know how this looks, and it LOOKS exactly like what it is: a Power of Attorney using mom's money to benefit herself. YOU CAN'T DO THAT.

ADVERTISEMENT


pamstegma May 2015
You took a sizeable gift from her, and by doing that she will be ineligible for any Medicaid assistance for 5 years. That is pretty risky. You also used your POA to benefit yourself, which is downright illegal in all 50 states. I think you already know what your brothers' reaction will be.

gladimhere May 2015
Luvmum, boy oh boy, you have opened a can of worms. You could be charged with financial exploitation and I would not be surprised if your brothers did just that. Only a doctor can determine competence, an attorney can talk with a client to see if they are competent enough to sign legal document like POA's.

I sure hope you talked this decision over with someone else before doing it!

ADVERTISEMENT

Ask a Question

Subscribe to
Our Newsletter