My dad, 85, was diagnosed with Alzheimer's a year ago. He's gotten to the point where he cannot make financial decisions. His neurologist and primary care physician have each given me a letter stating that he can no longer make financial or medical decisions. He does have a durable POA.
We recently had his driving evaluated and he had to surrender his license. I removed his cars from his property, sold them, and put the money in his trust.
He has a lady friend that has been taking advantage of him financial for the last three years. She has convinced him that he doesn't have Alzheimer's and is trying to turn my dad against me and my siblings.
I visited his bank with the POA and the letters from the doctors. The bank said that they cannot stop him from cashing in his CDs and that I needed a court order in order to remove his signing privileges on his accounts.
I checked into the process of getting guardianship and it seems like that would be a traumatic process for him to go through.
His lady friend has convinced him to cash in one of his CDs to buy a new car and that she will be his chauffeur.
I'm trying to figure out the best way to safe guard his finances while causing the least amount of stress on him. My siblings and I agree that he should no longer live alone and that he needs to move in with me. How can I "force" him to move in with me?
Go to an Elder Law attorney with your letters. He will assist you according to the laws of your state in making letters testamentary that you are now acting for all executive functions including banking for the protection of your elder. He/she will advise you on how to become SIGNEE for ALL banking and you will need to contact EACH institution with your documents. It's gonna be a busy year; I went through it. Banks are the toughest. You should consider becoming representative payee for SS also.
Attorney will also instruct as to how to keep files and to do meticulous documentation of every penny into and out of account. Wish I could show you my file box. My bro passed almost five years and I still have to hold on to that thing, hee hee.
Good luck.
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