I have been paying a lady. Am I at any risk? - AgingCare.com

I have been paying a lady. Am I at any risk?

Follow
Share

My Mom is in assisted living, I have been paying a lady to come and see her, it's been like 4 times so far, I write her a money order and then reimburse myself. My Mom is ok with money, and the will says no one can sue or or they will inheritance, am I at any risk here? It's not really caregiving it's just visiting her, she already is in an assisted living nursing home that costs 4,500 a month. I write down on every check reemursement and save money orders. Will anyone look back on POA stuff? She has enough income for over the 5 year mark, I want to make sure to protect myself and not cause any problems after the fact.

This question has been closed for answers. Ask a New Question.
4

Answers

Show:
I think it all depends whether you have conservatorship over her money and need to produce reports on how it is spent. With a financial POA, at least in my state, you can represent her in making financial decisions that benefit her. Definitely, having a visitor would qualify as beneficial and I don't think anyone would sue for misappropriation of funds for that.
Helpful Answer (1)
Report

As long as you get a receipt from the lady you are paying to visit your mum as proof that the money wasn't going to you. You need to protect yourself and always have proof of where the money goes!
Helpful Answer (1)
Report

I guess what I was asking was after my Mom dies does anyone go back and check on her stuff. I am in charge. Does anyone go and check on money spent.
Helpful Answer (0)
Report

What kind of trouble do you mean? If you pay her more than $600 (or is it $1400?) in a year, the IRS wants you to tell them all about it and issue her a W2 or a 1099-MISC. Not everyone does that.

Are you concerned that you might be disqualifying her for Medicaid? I think that if she is alone a lot, arranging for a visitor is an appropriate use of her money. She would be allowed to spend money on meals at restaurants, so how is this different?
Helpful Answer (0)
Report

This question has been closed for answers. Ask a New Question.
Related
Articles
  • 401(k) plans are one tool for saving for retirement that financial advisers urge Americans not to forgo. If your employer offers one of these programs, opt in as soon as you can.
  • A roundup of web-based and mobile financial tools that will help you monitor your money, budget better and save more.
  • There are undeniable benefits to purchasing an annuity, but there are many different types. Careful planning and consideration are required to find one that is the best fit for your financial situation.
  • Bells are ringing all over town as charities ramp up appeals for holiday donations. Use these simple strategies to give confidently and maximize your charitable efforts this season.
  • Numerous resources are available to educate a spouse or an aging loved one on the basics of personal finance, retirement planning, investing and more. In fact, some of these learning tools are both practical and enjoyable.
  • 401(k) plans are an employer-sponsored benefit that enables workers to set aside money towards their retirement. How do you decide which kind of 401(k) plan is best for you? Very carefully.
Related
Questions