Legal Question in Wills and Trusts in Illinois
inheritance
as only child & power of attorney for mothers money..can i gift myself of some of the money before her nursing home expenses eat it all up?if so can i still get that amount from 2006?what is the amount?
2 Answers from Attorneys
Re: inheritance
What your asking to do is very risky. First, you have a duty to your mother as her agent not to give away her money. It is hard to show how giving her money away helps her. If you really feel that you should get the gift, I would have someone else act within the authority of a power of attorney and gift you the money. Its just problematic when someone gives themselves money from an estate that that same person controls.
Re: inheritance
You can only gift yourself money if the power of attorney strictly provides for gifting to the attorney in fact.
Also, there are legitimate ways to transfer your mother's money so that she qualifies for medicaid before it all goes to pay for the nursing home.
email or call me if you have any questions.
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