djbaker1969
Junior Member
What is the name of your state? New York
My 72 yr old psychotic mother is now at a state run psychiatric hospital. She still refuses to give me a power of attorney. She owns a co-op apartment worth about $70K and has about $40K in cash. The psych hospital petitioned to become the receiver of her social security checks, I told them that her SS is currently direct deposited in her bank account and is used to pay her private health insurance premiums and her co-op maintenance and insurance. I explained if her maintenance stops getting paid - her apartment will probable eventually go into foreclosure or at least become encumbered. They have agreed to and suggested I become a representative payee of my mother's social security.
Is this a smart or foolish thing for me to do?
What are the advantages and disadvantages?
I assume the hope of protecting any of her assets at this point (for my ultimate benefit) is nil?
Thanks very much for your input.
My 72 yr old psychotic mother is now at a state run psychiatric hospital. She still refuses to give me a power of attorney. She owns a co-op apartment worth about $70K and has about $40K in cash. The psych hospital petitioned to become the receiver of her social security checks, I told them that her SS is currently direct deposited in her bank account and is used to pay her private health insurance premiums and her co-op maintenance and insurance. I explained if her maintenance stops getting paid - her apartment will probable eventually go into foreclosure or at least become encumbered. They have agreed to and suggested I become a representative payee of my mother's social security.
Is this a smart or foolish thing for me to do?
What are the advantages and disadvantages?
I assume the hope of protecting any of her assets at this point (for my ultimate benefit) is nil?
Thanks very much for your input.