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If you are POA for someone and they aren't good at paying their bills,
Posted on 5/1/25 at 6:27 pm
Posted on 5/1/25 at 6:27 pm
If their checks are sent to your account (and then you pay their bills) do you have to pay income taxes on that?
This post was edited on 5/1/25 at 6:28 pm
6
Posted on 5/1/25 at 6:34 pm to tigerskin
Commingling funds? That sounds dangerous..
Posted on 5/1/25 at 7:52 pm to Shepherd88
They are being romance scammed in their own account by Nigerian prestending to be be someone famous.. So checking account gets drained immediately after deposits and can't pay bills. Yes it is ridiculous. There are no good options that I know of.
I guess go through complete conservatorship?
I guess go through complete conservatorship?
This post was edited on 5/1/25 at 8:06 pm
Posted on 5/1/25 at 9:04 pm to tigerskin
You have POA? Go talk to the bank and explain what’s happening and shut that shite down
Posted on 5/1/25 at 9:42 pm to rocksteady
I just got the POA
She is on her 4th bank (which could quite possibly be the last). She apparently gives the scammer her account info (of course she denies it). All the banks shut her down but nobody can stop it. Makes it impossible to have a functional checking account.
She is on her 4th bank (which could quite possibly be the last). She apparently gives the scammer her account info (of course she denies it). All the banks shut her down but nobody can stop it. Makes it impossible to have a functional checking account.
This post was edited on 5/1/25 at 9:47 pm
Posted on 5/1/25 at 10:24 pm to tigerskin
POA doesn’t mean shite except you can sign contracts for them. If you want fiduciary control, you need a conservatorship. You’ll have to prove to a probate judge this person is incapable of caring for themselves. That can get expensive with experts.
You could also consider having a joint checking account. That gives you the ability to write checks for them from the account where their funds are deposited. The other person could still drain the account but maybe you just don’t give them the login or password and no checks for them.
Before my mom died, I paid her caregivers out of my checking account weekly. Mom would then write a check to pay me back periodically. I never had any type of IRS issue. If I was ever asked, I would say a family member paid me back for bills I paid for them. There was no profit so nothing to tax.
You could also consider having a joint checking account. That gives you the ability to write checks for them from the account where their funds are deposited. The other person could still drain the account but maybe you just don’t give them the login or password and no checks for them.
Before my mom died, I paid her caregivers out of my checking account weekly. Mom would then write a check to pay me back periodically. I never had any type of IRS issue. If I was ever asked, I would say a family member paid me back for bills I paid for them. There was no profit so nothing to tax.
This post was edited on 5/1/25 at 10:25 pm
Posted on 5/1/25 at 10:30 pm to tigerskin
quote:
She is on her 4th bank (which could quite possibly be the last). She apparently gives the scammer her account info (of course she denies it). All the banks shut her down but nobody can stop it. Makes it impossible to have a functional checking account.
This could be enough to go get a limited interdiction.
Posted on 5/2/25 at 4:07 pm to tigerskin
That is not the way to do it. The idea behind a POA is to allow the agent to sign for the principal on the principal’s account.
Posted on 5/2/25 at 4:18 pm to tigerskin
So you want to control an account for someone who’s bad at paying their bills, but good at giving away their money to Nigerians?
Future me looks forward to checking back on this thread.
Future me looks forward to checking back on this thread.
Posted on 5/2/25 at 4:54 pm to tigerskin
You shouldn't have a problem so long as you don't comingle funds. Open up a separate checking account, deposit her checks in that account and pay her bills out of that account.
Posted on 5/2/25 at 8:33 pm to tigerskin
No Income tax issue provided you have good records.
Is this person unable to control their affairs?
Is this person unable to control their affairs?
Posted on 5/2/25 at 10:26 pm to LSUFanHouston
quote:
Is this person unable to control their affairs?
Well, it depends exactly how you define that. She can talk the talk and convince people she has things under control. She obviously doesn't.
And for the poster above, I don't necessarily WANT to do this. The alternative is to let a relative completely crash and burn while giving everything away to a scammer. Some would say, people making such bad choices need to learn the hard way. I just can't give up
Posted on 5/2/25 at 10:31 pm to Roscoe14
quote:
You shouldn't have a problem so long as you don't comingle funds. Open up a separate checking account, deposit her checks in that account and pay her bills out of that account.
Whose name would that separate checking account be under?
Posted on 5/3/25 at 1:25 pm to Drizzt
For the people downvoting me, have you ever actually done a conservatorship evaluation or testified in probate court that a person isn’t competent? Because I have. You people don’t know jack shite.
Posted on 5/13/25 at 8:28 am to tigerskin
quote:
Whose name would that separate checking account be under?
Sorry about the tardy response, I just saw this. Anyway, the separate checking account can be in your name, it really does not matter. What does matter is that by having the separate account you can document that no co-mingling of funds is taking place.
Posted on 5/13/25 at 9:47 am to tigerskin
Hire a certified money manager. I did and it was great. I can give you his name.
They offer too much peace of mind and time to not consider.
They offer too much peace of mind and time to not consider.
This post was edited on 5/13/25 at 10:08 am
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