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By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid. We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour. APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment. You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints. Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights. APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.I agree that: A.I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information"). B.APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink. C.APFM may send all communications to me electronically via e-mail or by access to an APFM web site. D.If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records. E.This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year. F.You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
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My 90 year old father was diagnosed with dementia 2 1/2 years ago, but had long been accruing debt. My mother is 87, still sharp but also has debt. If I assume POA, will that make me responsible for their large (45k) debt?
Not at all responsible unless you signed for their debt. Anything you co-signed you are responsible for. Keep your name off their accounts so things don't get confused, unless as a POA. They are responsible for their debt when living and their estate is responsible to pay off their debts after their death. Creditors can get liens and etc. on home, care, what have you after death.
My d-bag stepFIL owed $12K in back property taxes on their crappy quad home. "Somehow" he managed to pay it off just in time to avoid a Sheriff's sale. I was the one who literally packed up their home and I went through every piece of mail, leaf of paper, every book, looking to see where he might have conjured up this money. I was never able to figure it out and the county couldn't tell me except it was paid by check but I never saw that amount in any bank statement of his that I found. He owed all of us money (not a lot but apparently we rated lower than the county). Ironically, he had an actual college degree in Finance and had worked at a bank early in his life.
I would check out how checks should be signed when you are a POA. I was on my Moms accounts. So I signed my name followed by POA. When I signed anything of importance, I asked how they wanted me to sign. Some papers have a "representative" line. This I signed with my name and POA following. Some places wanted me to sign Moms name with mine underneath followed by POA. Always sign with POA following.
You are not responsible for parents debts. If they have no money, they have no money. Children are not responsible and holding a POA ur not responsible. Just be careful what you sign. Do not make yourself responsible for anything.
Your father is responsible for his debts and upon his death his assets in his estate will be used to pay these debts; this will be the responsibility of the executor of his will or the person assigned by the courts to settle his estate in the absence of a will. HOWEVER some people don't understand POA and don't understand that it is crucial that your money and name not be melded on accounts as anything but his POA or the POD of his accounts. That is to say take care and understand how a poa works. When you sign checks they should be signed with his name. For instance My Dad, by His Son under POA or POA in fact. Never sign your name to anything. Never discuss anything with bill collectors. Were I you, unless you understand POA very well, I would pay for an hour of time with an attorney to understand how not to get yourself assigned responsibility.
You are if you are joint on anything with them, like a credit card, mortgage, loan, etc. My husband was financial PoA for his mom. She was married to a man with Parkinsons and very stubborn and secretive. We stepped in when they were spiraling out of control from cognitive decline and found they were deeply in debt and barely had enough left of their ss checks every month to buy food. They had a ballooning second mortgage on a home they'd never live long enough to own. We wrote a letter to the mortgage holder explaining the situation and began only paying a fraction of their monthly payments so that it wouldn't trigger the foreclosure process yet. We marked collection letters "Not at this address" and put them back in the mailbox unopened and blocked collection callers. We cancelled any unnecessary services (like the water softener, newspaper, auto insurance so they couldn't drive, etc.) We applied for Medicaid for MIL (her husband wouldn't sign the application). Long story short when they were both finally placed in facilities we locked their home and dropped off the keys at the mortgage holders. The end. So, please don't worry as you manage your parents' financial mess. It is sad that so many won't see the money they are owed but there is nothing that can be done (and those businesses probably have loss insurance that will cover some of it). If your father has diagnosed dementia you cannot be made his PoA, but you can for your mom. I wish you wisdom and peace in your heart as you make the best of your abilities to help them.
It's pretty shocking the debt cycle some elders get into. My LO was in a similar situation: things were a secret, debt was out of control, the house had a lien, etc. I can't remember the exact circumstances which finally got me involved with the finances but I remember being over at her home while she giggled and laughed and showed me all of her debts. The giggling was how she coped with stress, but it only served to increase MY stress. I'd suspected that all was not well for a number of years (and had done some snooping), but it's quite another thing to have it ALL in front of you and realize LO is quite possibly facing homelessness (she denies it was ever that bad). I do believe cognitive decline was already underway, but it was hard to tell because her judgment was always poor and she almost always made bad decisions even when she was technically "well." It's shocking what an elder with money problems can set in motion - not realizing they can't maintain it. I'm grateful she qualified for facility care (Medicaid) because I otherwise do not know what would have happened or where she would be right now.
No. Unless you sign accepting responsibility for their debt, you are not personally responsible for your parents debts.
POA only gives you the authority to act on their behalf, based on what they would do themselves if they were of sound mind. It does not make you responsible for their past actions. If they have the money to make monthly payments towards the debt you should do that.
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
You are not responsible for parents debts. If they have no money, they have no money. Children are not responsible and holding a POA ur not responsible. Just be careful what you sign. Do not make yourself responsible for anything.
HOWEVER some people don't understand POA and don't understand that it is crucial that your money and name not be melded on accounts as anything but his POA or the POD of his accounts. That is to say take care and understand how a poa works. When you sign checks they should be signed with his name. For instance My Dad, by His Son under POA or POA in fact. Never sign your name to anything. Never discuss anything with bill collectors.
Were I you, unless you understand POA very well, I would pay for an hour of time with an attorney to understand how not to get yourself assigned responsibility.
POA only gives you the authority to act on their behalf, based on what they would do themselves if they were of sound mind. It does not make you responsible for their past actions. If they have the money to make monthly payments towards the debt you should do that.