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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

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  • 8 years ago
    Favorite 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.

  • 8 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.

  • 8 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.

  • 8 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
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  • ?
    Lv 7
    8 years ago

    Nope the money is for DAD .

    when he passes , siblings get any thing left.

    sharing now is often illegal and punishable.

  • 8 years ago

    maybe; depends on a LOT of things.

    law in Wi,

    WHO the trustor is

    etc

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