Legal Question in Wills and Trusts in New York

how can my sister and brother protect their assets

my brother and sister live in poughkeepsie together. he helps to care for her. upon her verbal permission he transacts all of our sister's banking (atm), and paying bills. she is phsyically disabled and speech impaired caused by 3 strokes. her health is very fragile, she has no will nor money for legal fees for wills and such. what can they put in place that will allow him to access any funds left in her account when she passes on. also to protect him from losing her section 8 voucher for their aptmt. currently section 8 application is closed. sister is on a wait list for senior housing. if she passes, will brother have to vacate senior housing will have to get rid of her companion animal. he is only 47 now. sister also is responsible for repayment of a car loan. car registration is in her name. how can this be transferred to brother's name. what other affairs should be addressed and how.


Asked on 1/13/09, 8:54 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: how can my sister and brother protect their assets

Brother should have a Durable Power of Attorney (I can do it for you for nominal fee or get a form at any business supply store - Staples, Office Depot, etc.)), which expires on sister's demise. He can use POA to re-title car registration either in both names or his name alone (he will need to have insurance in either case). He will probably lose Section 8 housing as he is not eligible himself) and this should be checked as to rights of survivor caretaker. He will have to assume responsibility to repay car loan, to re-register title. Keeping animal will depend upon rules of eligible housing.

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Answered on 1/13/09, 1:17 pm


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