Question by CJ: Is a power of attorney responsible for the credit card debt that the elder they have POA over, has run up?
My mother is the power of attorney (POA) for her mother (my grandmother). Grandmother is 86, and mother is 62. Grandmother owes credit card debt to the tune of many thousands, but on her fixed income can’t pay it back too well. Is my mother liable for that debt? In other words, can the credit card company come after my mother for payment just because she’s the power of attorney for my grandmother? Thank you in advance for your help.
Best answer:
Answer by BD in NM
I too am a POA and do not believe the POA is responsible for the debt incurred by the person we are helping. However it would be in the best interest of your grandmother if your mother stepped in and took control of the credit cards. Your mother does have a fiduciary responsibility to protect your grandmothers financial well being.
Know better? Leave your own answer in the comments!
“credit card debt attorney”
Related posts:
- Is a power of attorney responsible for the credit card debt that the elder they have POA over, has run up? “credit card debt attorney”
- Is a power of attorney responsible for the credit card debt that the elder they have POA over, has run up? “credit card debt attorney”
- Dad is dating a woman w/ IRS & credit card debt, no assets. When in CA can he potentially become responsible? “irs credit card debt”
- Dad is dating a woman w/ IRS & credit card debt, no assets. When in CA can he potentially become responsible? “irs credit card debt”
- Is Dad responsible for stepmom’s credit card debt after her death?