Legal Question in Wills and Trusts in Arkansas

Re: Financial Responsibility of Power of Attorney

I strongly suggest that you talk to an Atty about filing a bankruptcy for them. If they are able to communicate then they will have to appear for the meeting with the Trustee. If they are not, then you need to get a Guardianship over them so that you can speak for them In a bcy a POA will not do.

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Re: Financial Responsibility of Power of Attorney

As long as your name is not on any of the debts, you should be safe personally. As far as your parents, it depends on what the debts are for. If there are any with secured interests, such as for a house or car, you are going to need to work something out with the creditors or risk losing the property.

Nonsecured debts, such as credit cards and other bills, can either be negotiated down, or you can file a bankruptcy on their behalf.

There may be some other ways to protect their assets. A lot of the reason for harassing calls is that may be their only way of collecting, so they are just trying to harass and intimidate you into paying. It mainly depends on what their assets are and what their bills are for. I would need to look at the entire debt and asset groups to say what is best for your situation.

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