What is the name of your state? Tx
Background:
I am a sole surviving heir to my mom's estate. No siblings.
Father passed away in 2000 and my step father passed away in 2005.
Mom has dementia/Alzheimer's.
Sought legal advice from attorney
Mom was placed in care facility and medicaid approved in May 2005
I have Durable POA for health and finance
Estate:
Homestead, auto and personal effects, all OK'd by Medicaid.
Scenario:
Received death benefit from step-fathers passing in July 2005.
Homestead was too far away to take care of. It was a drain on what little income remained after Medicaid payments to care facility
Sold homstead Nov 2005
Attempted to purchase new homestead with proceeds from homestead 1 sale combined with death benefit from step-father. Attorney explained that death benefit funds needed to be dispersed this calendar year.
Title company for new home purchase wouldn't accept my POA (which allows for real estate transactions ... another long story) due to my mom's mental state. Couldn't confirm that the POA hadn't been revoked. (I know, hindsight about making the POA irrevokable is 20/20)
Homestead 2 purchase is dead without guardianship being put into place. No can do this late in the year.
Question ... can I take the funds from the death benefit and home sale and buy my mom a new vehicle and it be protected? At least it is something to show for her years of hard work.
Thanks
Background:
I am a sole surviving heir to my mom's estate. No siblings.
Father passed away in 2000 and my step father passed away in 2005.
Mom has dementia/Alzheimer's.
Sought legal advice from attorney
Mom was placed in care facility and medicaid approved in May 2005
I have Durable POA for health and finance
Estate:
Homestead, auto and personal effects, all OK'd by Medicaid.
Scenario:
Received death benefit from step-fathers passing in July 2005.
Homestead was too far away to take care of. It was a drain on what little income remained after Medicaid payments to care facility
Sold homstead Nov 2005
Attempted to purchase new homestead with proceeds from homestead 1 sale combined with death benefit from step-father. Attorney explained that death benefit funds needed to be dispersed this calendar year.
Title company for new home purchase wouldn't accept my POA (which allows for real estate transactions ... another long story) due to my mom's mental state. Couldn't confirm that the POA hadn't been revoked. (I know, hindsight about making the POA irrevokable is 20/20)
Homestead 2 purchase is dead without guardianship being put into place. No can do this late in the year.
Question ... can I take the funds from the death benefit and home sale and buy my mom a new vehicle and it be protected? At least it is something to show for her years of hard work.
Thanks