What is the name of your state (only U.S. law)? MI
My mom has been diagnosed with mild dementia and demands to write her children large amount checks?
She has not been declared mentally incompetent, she can write and sign her name, but insists on giving her children the money in her bank accounts because she doesn't want the government to get it because of what happened on Wall Street and she is paranoid. She also lived through the Great Depression. Can we accept this money? And what happens if she has to go into assisted living or nursing home? She gets a good amount per month from SS.
My brother has a durable power of attorney for her financial affairs but she INSISTS on giving all of us money as GIFTS to help us out on our mortgages and such. We just don't know whether to accept it or not. I did research and it says she can give up to $12000 per year. I don't think she'll have to apply for Medicaid because of her income and other savings and she'll also have VA benefits if she has to go into assisted living. We are so confused.
I meant to say $12000 per child or grandchild per year is what I've been told.What is the name of your state (only U.S. law)?
My mom has been diagnosed with mild dementia and demands to write her children large amount checks?
She has not been declared mentally incompetent, she can write and sign her name, but insists on giving her children the money in her bank accounts because she doesn't want the government to get it because of what happened on Wall Street and she is paranoid. She also lived through the Great Depression. Can we accept this money? And what happens if she has to go into assisted living or nursing home? She gets a good amount per month from SS.
My brother has a durable power of attorney for her financial affairs but she INSISTS on giving all of us money as GIFTS to help us out on our mortgages and such. We just don't know whether to accept it or not. I did research and it says she can give up to $12000 per year. I don't think she'll have to apply for Medicaid because of her income and other savings and she'll also have VA benefits if she has to go into assisted living. We are so confused.
I meant to say $12000 per child or grandchild per year is what I've been told.What is the name of your state (only U.S. law)?