I have several bank accounts which I share with my elderly father. His health is failing and I want to move funds from these accounts to protect all of the assets from being consumed by health costs. Is it legal for me to do this?
Asked on 4/23/14, 9:39 am
1 Answer from Attorneys
Richard Bryan
Richard Bryan Attorney PC
Do you have a power of attorney which allows you to make gifts to yourself? If not, then transferring dad's money, even if the account is joint, may have negative consequences. This is very fact specific and you've really got to be careful here.
Answered on 8/15/14, 5:55 pm
Related Questions & Answers
-
My elderly mother was conned into putting her name on a deed and co signing for a... Asked 3/24/14, 3:11 am in United States New York Elder Law
-
My father recently passed away and my step mother has refused to give my brother,... Asked 3/22/14, 11:25 am in United States New York Elder Law
-
My stepmother gave power of medical attorney to my step brother who will not step in... Asked 3/20/14, 11:41 am in United States New York Elder Law
-
My brother produced POA papers at a family meeting, my mom is 83 diagnosed with... Asked 3/17/14, 10:19 pm in United States New York Elder Law
-
Does one need an attorney to get a DPOA and a health care proxy in the state of New... Asked 3/01/14, 7:29 pm in United States New York Elder Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
