Legal Question in Wills and Trusts in Michigan

Re: Grandmothers Acct

I have POT over my grandmother. Before I took over her finances she allowed several things go into collection. She has a small (8,000.00) savings, but she has over 40,000 in collections. I'd like to make sure her children get to split the savings after she passes but am afraid these collectors are going to try and take it. is it illegal for me to take that money out of her name so they couldn't take it? Right now my name is also on her account.


Asked on 9/09/08, 3:42 pm

2 Answers from Attorneys
Lesley Hoenig Lesley A. Hoenig, Attorney at Law

Re: Re: Grandmothers Acct

It would not be a good idea to take the money from her account because it will be seen as an attempt to hide assets. On the other hand, she may benefit from a bankruptcy (however is she capable of attending the one court date she would be able to attend?). It depends on what other assets she has, but it may be of benefit to her. I would be happy to speak to you about doing that, or negotiating with creditors that are pursuing collections.

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Answered on 9/10/08, 5:51 pm
Timothy Klisz Klisz Law Office, PLLC

Re: Re: Grandmothers Acct

this would be considered a fraudulent conveyance and basically not a good idea. I have other suggestions for you. Contact me at www.kliszlaw.com to discuss. Tim Klisz

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Answered on 9/09/08, 4:08 pm


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