What is the name of your state (only U.S. law)? Indiana
I have been taking care of gentleman that lives next door for about 1 year now. About 3 months ago he decided to make me his Durable power of Attorney and beneficiary. He has no living family. My question is he starting to get alzheimer's. He has been getting worse. I have been having him bring his bills to me each month because he forgets to pay on time and has had his Utilities turned off. He has be come over and go over his mail. My question is he has a living trust that was set up by his Father. The problem is the local bank manages it for him. It is invested in stocks in the last year he has lost nearly 60 thousand dollars. He has allowed his life insurance to cancel. He won't allow me to reistate his medicare supplement. He is a very independant person so I want him to do for his self for as long as he can. I have tried to talk to him to cash in his stock in put it in a Savings/CD. He has about 100 thousand left. My concern is if at some point he would have to go in a nurseing home he is going to need as much of it as posibile. I don't think I could ever put him in one but you never no. My question is should I do it for him or just leave it alone. I don't know if legaly I can. He ask me to take him to bank to find out why he has lost this money but each time he say's O Well I can live on whats left. By next year there my not be anymore. I don't like to get involved with someone's money. But there come a time when he my need it. Help Please
I have been taking care of gentleman that lives next door for about 1 year now. About 3 months ago he decided to make me his Durable power of Attorney and beneficiary. He has no living family. My question is he starting to get alzheimer's. He has been getting worse. I have been having him bring his bills to me each month because he forgets to pay on time and has had his Utilities turned off. He has be come over and go over his mail. My question is he has a living trust that was set up by his Father. The problem is the local bank manages it for him. It is invested in stocks in the last year he has lost nearly 60 thousand dollars. He has allowed his life insurance to cancel. He won't allow me to reistate his medicare supplement. He is a very independant person so I want him to do for his self for as long as he can. I have tried to talk to him to cash in his stock in put it in a Savings/CD. He has about 100 thousand left. My concern is if at some point he would have to go in a nurseing home he is going to need as much of it as posibile. I don't think I could ever put him in one but you never no. My question is should I do it for him or just leave it alone. I don't know if legaly I can. He ask me to take him to bank to find out why he has lost this money but each time he say's O Well I can live on whats left. By next year there my not be anymore. I don't like to get involved with someone's money. But there come a time when he my need it. Help Please