POA and Income Tax Returns

[spiceeyes]

What is the name of your state (only U.S. law)?

 

[spiceeyes]

Try again- POA for Tax Returns

Some how my questions didn't get posted.

I manage all my parents money and financial business. I have a POA for my Dad. All of his assets are in a trust of which I am the only trustee. No one has a POA for my Mom (not all lawyers are good at their job). My Mom is mentally, physically, and legally unable to sign anything (she is 100). So How do I file their federal and state income tax returns without her signature?

 

[tranquility]

Some how my questions didn't get posted.

I manage all my parents money and financial business. I have a POA for my Dad. All of his assets are in a trust of which I am the only trustee. No one has a POA for my Mom (not all lawyers are good at their job). My Mom is mentally, physically, and legally unable to sign anything (she is 100). So How do I file their federal and state income tax returns without her signature?

You get a conservatorship over her.

 

[Ohiogal]

Some how my questions didn't get posted.

I manage all my parents money and financial business. I have a POA for my Dad. All of his assets are in a trust of which I am the only trustee. No one has a POA for my Mom (not all lawyers are good at their job). My Mom is mentally, physically, and legally unable to sign anything (she is 100). So How do I file their federal and state income tax returns without her signature?

How is that the fault of a lawyer that your mother does not have a POA?

 

[spiceeyes]

You get a conservatorship over her.

I was told that would cost around $10,000. She has only has about $1,000 and only income is a meager SS.

 

[spiceeyes]

How is that the fault of a lawyer that your mother does not have a POA?

A lawyer separated all my parents assets into a trust with my father as only ownership, so as to protect what my dad has to live on and to allow my mom to get financial help with her huge medical and care bills. At this time it was requested of the court declare her incapable of managing her own affairs. Before this all happened the attorney should have suggested we have a POA for her. She was at that time was of fully capable of understanding what a POA was for, but it was clear she was going down the road of Alzheimer's. Now she hardly recognizes her own children.

 

[tranquility]

I was told that would cost around $10,000. She has only has about $1,000 and only income is a meager SS.

Then, why does she need to file a tax return?

 

[LdiJ]

Then, why does she need to file a tax return?

I suspect that its a joint return..mom and dad together. Dad could file separately but that might not produce a good result.

 

[latigo]

I suspect that its a joint return..mom and dad together. Dad could file separately but that might not produce a good result.

Right! Dad's only in his early nineties.

 

[LdiJ]

Right! Dad's only in his early nineties.

What does being in his nineties have anything to do with it? I have at least a dozen clients that are that old that have substantial income.

 

[tranquility]

Dad's assets are in a trust but mom has nothing and that is why no conservatorship is going to be done? Interesting.

What does being in his nineties have anything to do with it? I have at least a dozen clients that are that old that have substantial income.

If there is substantial income, then people better get the right to sign for mom pretty quick, $10K or no.

 

[spiceeyes]

Right it is a joint return. If I filed separately won't I still have to file a return for Mom, she has an income of approx. $670 a month.

 

[LdiJ]

Right it is a joint return. If I filed separately won't I still have to file a return for Mom, she has an income of approx. $670 a month.

No, you would like not have to file a federal return for your mother. If she only has 1k in income other than social security she would not be required to file a federal return. However some states might still require her to file a state return. You would have to research that.

How would filing separately impact your father? If it would not impact him substantially, that might be the simplest answer to the problem.