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re: Neurologist said he is considering filing with a judge to remove my FIL from his finances

Posted on 7/29/23 at 7:19 am to
Posted by LSU0358
Member since Jan 2005
7920 posts
Posted on 7/29/23 at 7:19 am to
quote:

but you need to open a checking account for him & CLOSE ALL OF THE ACCOUNTS THAT HE IS AN OWNER OR SIGNOR. If you can’t close the accounts (direct deposits, etc) at least move the money to the new account as soon as it hits the current account.


I've seen this work with someone who was in slow decline. Have a separate checking account they can still draw from, but keep the amounts low and don't have it tied to any investing accounts, CD's, etc. If the account gets drained its not financial ruin.

It's basically a set up like you'd do for a preteen or teenager.
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