Legal Question in Elder Law in California

Elder Finances

My parents are in their late 70's early 80's. They have been making poor financial decisions. My sister and I have tried to get him to stop spending money he doesn't have (i.e. credit cards). His response is to tell us not to worry, but obviously, we do. What is my legal responsibility as an adult child of an elder parent? Is it my responsibility to stop him before he runs out of money? Or should I wait til he hits bottom and then help him pick up the pieces.


Asked on 7/14/08, 12:23 pm

1 Answer from Attorneys
Terry A. Nelson Nelson & Lawless

Re: Elder Finances

Your's is a moral obligation, not legal. To protect them, you might have to seek a conservatorship over them, but that means you telling the court they are 'incompetent' to manage their money. If you can't exert family influence over them through an 'intervention', court action is your last resort, other than ignoring the problem and allowing them to go broke.

Read more
Answered on 7/14/08, 1:36 pm


Related Questions & Answers

More Elder Law questions and answers in California