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This is one of the saddest stories I have seen. For those of us considering giving power of attorney to someone, it should have enough caveats in it to insure they can't put you out on the street.
Too bad he couldn't have seen the evil in his own daughter before giving her POA. That granddaughter is a gem, there aren't many of those around these days. And yes, weigh that decision very, very carefully. Sometimes a stranger is better chosen.
He would have done better to have worked out a life estate with his granddaughter and signed over his home to her with a deed that allowed him to stay in the house til his death. This is a cautionary tale, indeed!
Just b/c someone is related to us it doesn't mean they will always have our best interests at heart.
My dad live 1800 miles away and my sister had POA. He lived in assisted living and had total trust in her, as did I. Sadly when he passed away I was shocked to find out that she had gone through his entire estate of approx. $500K. He never had to touch his principal as he had enough monthly checks to cover his expenses, with $10K left over each year. She also took loans in his name, charged his credit card to the limit. I believe in his last few days on this earth he discovered his "darling" betrayed him. The betrayal of trust he placed with her hurt most of all.
My dad live 1800 miles away and my sister had POA. He lived in assisted living and had total trust in her, as did I. Sadly when he passed away I was shocked to find out that she had gone through his entire estate of approx. $500K. He never had to touch his principal as he had enough monthly checks to cover his expenses, with $10K left over each year. She also took loans in his name, charged his credit card to the limit. I believe in his last few days on this earth he discovered his "darling" betrayed him. The betrayal of trust he placed with her hurt most of all.
Okay, that gives me cold chills.
So you are saying that the money she went through did not pay for his assisted living expenses? That is so shocking. She had to know the rest of the family would one day find out.
So you are saying that the money she went through did not pay for his assisted living expenses? That is so shocking. She had to know the rest of the family would one day find out.
How much difference is there between this and hiding assets from probate and estate taxes? Many do this. The biggest problem may be they didn't share at least not yet! His bills were Paid plus 10k for living expenses per year.
My dad live 1800 miles away and my sister had POA. He lived in assisted living and had total trust in her, as did I. Sadly when he passed away I was shocked to find out that she had gone through his entire estate of approx. $500K. He never had to touch his principal as he had enough monthly checks to cover his expenses, with $10K left over each year. She also took loans in his name, charged his credit card to the limit. I believe in his last few days on this earth he discovered his "darling" betrayed him. The betrayal of trust he placed with her hurt most of all.
How long ago did he pass? If it was within the last year give it time. Was there a will?
"Everyone who sent us money said they didn't want to give a dime of to
[Cottrill]. People told my grandfather to take the money and buy a different
house," Fraley said.
Something about this story is missing. I'm pretty sure we don't know all of the facts. Though state laws differ throughtout the country, I do believe that Powers of Attorney can be rescinded. Courts also have the authority to intervene and appoint a guardian ad litem if an incapacitated person is not being properly represented by counsel or doesn't have counsel. But the judges hearing these two cases haven't done that which gives me the impression there's a valid reason to side with the seemingly ungrateful daughter. In any event, I think the man should take the substantial sum donated thus far and make other living arrangements. Let this be a lesson to us all ... carefully nurture relationships with those who will be taking care of us when we can no longer do so ourselves.
Something about this story is missing. I'm pretty sure we don't know all of the facts. Though state laws differ throughtout the country, I do believe that Powers of Attorney can be rescinded. Courts also have the authority to intervene and appoint a guardian ad litem if an incapacitated person is not being properly represented by counsel or doesn't have counsel. But the judges hearing these two cases haven't done that which gives me the impression there's a valid reason to side with the seemingly ungrateful daughter. In any event, I think the man should take the substantial sum donated thus far and make other living arrangements. Let this be a lesson to us all ... carefully nurture relationships with those who will be taking care of us when we can no longer do so ourselves.
One has to wonder if he is still competent to live alone and if she is trying to force him into Assisted Living. Not sure about trusting the grand daughter.
I am wondering how the care of the 64 y/o, dependent, autistic son fits into all this? That was barely touched on in the article.
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