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  1. #1
    Join Date
    Dec 2008
    Location
    Calif
    Posts
    289

    Default Personal Bankruptcy While Mother's Caregiver

    My question involves bankruptcy in the state of: Calif. I am my mother's caregiver, have Power of Attorney over her health and financials. We share ownership of a mobile home and I do have a homestead exemption on it. I have major credit card debt and my income for paying bills comes from my IRA, my mother's Social Security and pension. I have not worked for 6 years, since becoming her caregiver. How will my Power of Attorney affect my filing for bankruptcy. Since I do have access to her accounts and use them to pay the bills (rent, food, insurance for her and my cards....), will I have to report her income too? I've been drawing down my IRA to pay for the credit cards, but may not be able to continue this. I have been limiting my use of them and have cut most of my expenses. I've had to use the cards to pay some expenses...food, auto and home insurance, phone, internet service....
    How will all of this figure into filing for bankruptcy. If I file, I would file Chapter 7. One of my cards is also with the financial firm I use for my IRA. How will that impact it?


    Johnb123

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Personal Bankruptcy While Mother's Caregiver

    You apparently have completely commingled your finances with your mother's, and have blurred the line between what's hers and what's yours. The power of attorney is not relevant - your treating every asset your mother has as if it's your own, for a period of years, is what creates the potential problem. You can discuss your situation with your bankruptcy lawyer.

  3. #3
    Join Date
    Dec 2008
    Location
    Calif
    Posts
    289

    Default Re: Personal Bankruptcy While Mother's Caregiver

    I should have explained more. the account I'm using is a joint account between my sister and my mother. My sister has given me access and said to use it for whatever I need. There's only about $500 a month in it.

    - - - Updated - - -

    I have no problem bringing this up in bankruptcy. My concern is anyone making a case of me accessing the joint account, even if sister gives me permission to use the funds as I need.

    - - - Updated - - -

    This is now a moot point, no need to reply....not filing for bankruptcy....talked everything over with my sister....this is all settled.....it's her account.

    - - - Updated - - -

    Quote Quoting Mr. Knowitall
    View Post
    You apparently have completely commingled your finances with your mother's, and have blurred the line between what's hers and what's yours. The power of attorney is not relevant - your treating every asset your mother has as if it's your own, for a period of years, is what creates the potential problem. You can discuss your situation with your bankruptcy lawyer.
    Bankruptcy is completely off the table. Looking at another site on issues....as my mother's caregiver, I'm responsible for her medical care. I have to sign for everything when she's in the hospital. If for some reason, anything major happens and her insurance refuses to pay (she has excellent insurance, I got her extra coverage), but IF they refuse to pay....I'll be financially responsible. I'll hold off any talk of bankruptcy for that.

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