Another Question about Dad's Money

[Cassiopeia]

As some of you might remember, I posted that I filed Ch. 7 in June, went to my hearing mid-July and am now waiting discharge. My mother right before my hearing, and now I'm taking care of my elderly Dad (91 years old). I had asked before about some inheritance questions.

Now, Dad has suggested that he put my name as joint on his checking account, to make it easier for me to pay bills. Currently I send all his bills out, but have him sign blank checks several at a time to have them handy.

Would this be a problem with my BK filing? It's not an inheritance, and it's not even my money, although my name would be on the account. TIA.

[CityGirl]

wait until discharge, then it won't matter.

[guzzie]

good evening cassie.....citygirl correct......wait awhile....even though it's his money, with your name on the joint checking account it technically is your money as well...after the discharge you should be safe to do this......37 days to go for me.......

[HHM]

Legally, you could put your name on the account now, the BK estate is created at the time of filing. There are some caveats with inheritance issues, etc.

But, if you don't want to rock the boat, wait until after discharge.

[familyof7]

If you have already filed you can do so now.

[danaf]

What you and your Dad need is a power of attorney. They aren't that expensive or difficult to do. We just did one for my husband's mother.

[genseeker]

My aunt was made a "signer on account" for my grandmother when she became ill. The money was still legally my grandmother's but my aunt could legally sign her own name on checks to pay my grandmother's bills.

[CityGirl]

genseeker has a point as well...but I'd still wait...to be safe.

[Minnymouth]

Citygirl,

This is a good example of why ALL OF YOU NEED TO READ - the sticky under General Talk - "Life's Final Documents"........

Yes, you can have a "Special Power of Attorney" set up giving you permission to handle your dad's affairs and pay his bills for him. This special POA covers only certain areas that your dad request (writing checks to pay bills, etc). OR you can go ahead and set up "full power of attorney" to handle everything for him..... now and in the event he is no longer able to handle his own affairs.

Its a simple document, signed by your dad and then notarized.

It will not affect your bankruptcy in any way, since you have to account for everything that you buy, sell, and sign when you are a power of attorney for someone. You are handling their affairs, not your own and you cannot benefit from your actions for them.... In other words you can't write checks to yourself that you benefit from.

The only time it would affect your bankruptcy would be if your parent passed away and then there might be inheritance issues that pop up if you are still in bankruptcy.

Power of Attorney ceases when the patient dies.