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In WI, have POA, selling Dad's house to pay for assist. living, can I disperse funds to siblings?
6 Answers
- Glenn SLv 78 years agoFavorite Answer
No your Dad is not deceased. You are required to keep those funds in reserve to pay for his care. The government can come back after you personally to reimburse them for any money you didn't use for his direct care costs.
Using his money for or your siblings personal gain would be fraud/felony and you could go to jail.
- ibu guruLv 78 years ago
That's Dad's money. You are allowed to handle the sale of the property on his behalf, but the money is his, not yours. It can only be used to pay his assisted living costs. If you distribute anything in any other way, you can be charged with fraud, elder abuse, theft (and the siblings with receiving stolen property), and more.
If there is anything left after he passes, it can only be distributed through Probate Court in accordance with his will. The court will need a complete accounting of everything.
- SlickterpLv 78 years ago
You are quite the wrong person to have the POA.
NO. That money is dad's, not yours.
That said, it kind of depends on what he POA says. Why not ASK DAD what he would like done? Assisted living tells me he is functional.
- chatsplasLv 78 years ago
NO!
Dad is alive and will need much or all of proceeds
Anything done within last 5 years can be UNDONE
It could be considered Elder Abuse, fraud, etc.
Source(s): DISBURSE not disperse - How do you think about the answers? You can sign in to vote the answer.
- ?Lv 78 years ago
Nope the money is for DAD .
when he passes , siblings get any thing left.
sharing now is often illegal and punishable.