If she has, it's still up to her. Your brother should draft a formal undertaking to repay, including date, and sign it. I very much like PD's idea of you acting as his guarantor!
If she hasn't, and your POAs are being exercised, this is an absolute NO. You and your brother cannot possibly argue that it is in your mother's best interests to lend one of you money. It would be indefensible.
Absolutely not! I couldn't possibly do that. If adult children would just STOP looking to their parents for loans, for gifts, for money, or to buy them this, that, and the other thing, maybe the vulnerable adult would be able to pay their own way in later life, imo.
Seniors have been too too generous to fault for far too long. If you are over 65, consider contolling your spending by no longer giving to charities, even tithing, or stop donating to political parties, stop trying to save the earth, and save that money to pay your doctor, see a psychiatrist, or a financial counselor. imo. One should never have to pay family to act like family.
Medicaid would want to see a written loan agreement at prevailing interest rates with a repayment schedule, signed by both of you in front of a Notary Public.
You cant borrow money as a POA from the person you are POA for - it is a huge no no but I would do it if there is not concern on one proviso - if he doesn't pay it back you will!
PS, you are probably going to be told this is a no no when you hold POA, but I think a little flexibility in a family setting is OK as long as everyone is in agreement.
I think it depends on whether your mother wants to lend it to him. If she agrees then I would draw up a formal loan agreement, signed and dated and stating when the loan needs to be repaid, this is just a common sense protection in a worse case scenario.
If she has, it's still up to her. Your brother should draft a formal undertaking to repay, including date, and sign it. I very much like PD's idea of you acting as his guarantor!
If she hasn't, and your POAs are being exercised, this is an absolute NO. You and your brother cannot possibly argue that it is in your mother's best interests to lend one of you money. It would be indefensible.
If adult children would just STOP looking to their parents for loans, for gifts, for money, or to buy them this, that, and the other thing, maybe the vulnerable adult would be able to pay their own way in later life, imo.
Seniors have been too too generous to fault for far too long.
If you are over 65, consider contolling your spending by no longer giving to charities, even tithing, or stop donating to political parties, stop trying to save the earth, and save that money to pay your doctor, see a psychiatrist, or a financial counselor. imo.
One should never have to pay family to act like family.