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NCG051711 Asked January 2018

I am my fathers POA and recently he added me to his checking account. My father has debt (car, CC) will I be responsible when he dies?

97yroldmom Jan 2018
I’ve read where some posters  provide their elder with a Visa card that they put a specific amount of money on each month. When it’s gone it’s gone and the liability is limited to the amount on the card. 

polarbear Jan 2018
NCG- You should call the bank. They will be able to answer your questions.

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NCG051711 Jan 2018
Thank you for your answer. This is all very overwhelming! My father has dementia (this is why he added me to his account). I do not want to take away his independece with his finances... so I pay all the bills, but he still has access to his checkbook and debit card. He lives paycheck to paycheck, so there is never that much extra in his account after bills are paid. If he over-drafts (writes a bad check), will this reflect on me? Will I be held legally responsible to pay his overdraft check or will it hurt my credit? Obviously if it would happen repeatedly, then I will have to take full control, but trying to avoid that for as long as possible.... HIs main form of socialization is going to the grocery store, hardware store and out for lunch.

polarbear Jan 2018
Don't put your money into his account.

anonymous439773 Jan 2018
No. His estate will be responsible for his debts. If there is no money, unless you co-signed the car loan or hold the credit card jointly with him, you will not be responsible. If the car title is being held by the lender, it can be repossessed by the lender and sold at auction. If the car is sold for more than what is owed, the overage will be paid to the estate. You cease being POA when he dies. The Executor of his estate takes over at that point.

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