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They took his money - now when they deposit it back into his checking account to pay the ALF it's gonna look like some phantom income from somewhere.
Banks definitely ask questions when money suddenly appears. I had a student loan and one day my wonderful mom went to the bank and paid it all out. A day later I had the bank and student loan people on the phone demanding to know where the money came from. The only answer I had was that if they worked for the bank, they could figure out the answer. I didn't hear from them again, but money out of thin air leads to many questions.
Won't the kids have to pay tax on the money they inherited? That means the money they pay BACK into Dad's account will in effect be less than what they took out unless they were able to cover the taxes.
OP hasn't explained what is really going on here but it sounds like a mess.
I agree with the others. This was a terrible thing to do. Your father deserves to spend whatever days he has left getting the best care possible with the money from the sale of his house. ALL of the money should have gone into one account and the facility paid for from that.
The kids didn't steal the money!! It was my dads decision to gift it to us. We have all of it accounted for and in a separate account designated just for him. This was done with my dads attorney present.
I had contacted the VA for advice and suggestions but was told I needed to have my dad assigned to a doctor at the VA. He has his own family dr and didn't want to pursue that any further.
I do think I will look into an attorney that specializes in elder care.
The kids didn't steal the money!! It was my dads decision to gift it to us. We have all of it accounted for and in a separate account designated just for him. This was done with my dads attorney present.
I don't believe this. No attorney would be that stupid.
Location: Finally the house is done and we are in Port St. Lucie!
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Quote:
Originally Posted by HappytobeinTroy
The kids didn't steal the money!! It was my dads decision to gift it to us. We have all of it accounted for and in a separate account designated just for him. This was done with my dads attorney present.
I had contacted the VA for advice and suggestions but was told I needed to have my dad assigned to a doctor at the VA. He has his own family dr and didn't want to pursue that any further.
I do think I will look into an attorney that specializes in elder care.
Thank you for clarifying.
The way it was written in the opening post... If you re-read it, it does sound really bad.
1) " It was my dads decision to gift it to us." Then you had the world's dumbest attorney, who apparently did not lay out the consequences of doing what you did to you and your siblings. You also say it is in a "separate account designated just for him", but in your original post, you said the profit from the home sale was split-up among the siblings. Which is it?
2) Regardless, you need an eldercare attorney and you need to know that Medicaid -- which it sounds like your dad will end up on -- will look back 5 years and will trace where his money went. If they determine he is ineligible for Medicaid, they will not pay for his care and your family will either have to pay out of pocket, or move him in with one of you. If his dementia is worsening, he will not be able to stay in an ALF very long, and will require a higher level, more expensive type of care.
3) You can appeal the VA decision, but if he is just refusing to have a VA doctor, you aren't going to win that one. He needs to follow VA rules.
4) However, you can contact your local US Congressperson about the VA issue. Their staffs deal with these sorts of problems all the time.
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