I have his 1099 but no money!!! Where is the money!

Glad it all worked out. If that 23k is interest, then he has enough to keep him for a while. 😊

I'm glad that you were able to become your Dad's POA and that he confessed where he was "hiding" all of his money.  I hope that your future dealings with your Dad will be as "easy" as this one was. 🙌

Ok!!! Believe it or not, our local attorney got the paperwork and I was able to secure a notary and she brought her friend as witness! He signed it and he confessed that he had a separate credit union savings account with it all stashed! Unbelievable. Now with POA, I can sort this mess out and get his finances in order. He’s going to assisted living and he lied to me again on the phone on the way to see him. He said “I can’t afford that!” I said YES YOU CAN I HAVE SEEN YOUR TAX RETURNS! That shut him up. When I got to the facility, he confessed.

Please come back and tell us what you find. You may find Dad has investments. With 23k a year he is paying taxes on...there may be some big money stashed somewhere.

I am really confused. The definition I looked up has nothing to do with receiving income. It has to do with securing a loan based on what is left over after bills are paid.

I have a savings account with an insurance Co that I don't touch. I have 60k in this acct and receive 3k in interest. I never see the interest but I get a 1099 every year and have to pay taxes on it. Could this be your Dad? Does he have some type of investment thru his former firm that the money keeps rolling over but he chose to pay taxes upfront.

I would try to call the insurance company. Tell them the situation and see if they can at least give you some information. Look to see if you can find some information on shares or stock in the company. Either letters or actual paper shares or stock. Some stock is paperless now. Maybe Dad makes money and that money is used to by more shares but your Dad has to pay taxes on the money made. The 23k could be after fees are taken out, that would be residual? I am just brain storming here. Really not sure what I am talking about but it just popped into my head.😊

If you can't get POA ask a lawyer about conservatorship to handle Dads money.

Echoing Tacy. How are you in charge?

I think it may be time to walk away and let the folks at the facility sort this.

Dad is mentally Ill and unable to allow you to help, as much as you want to. Sadly there are parents who do much better with professionals in charge. They come without the emotional baggage of children who love them and get wounded by deceit.

I have not read your posts, but you sound panicked, and I wanted to help in some small way.
Myself and others will be reading your posts.
Take care.

On the forms 1099, there should be names of the issuers/payers. They should know where the money was sent. If you can get dad on the phone and tell the payers he gives you permission to talk for him, then you might be able to get the info.

Bipolardad, I wonder if the checks are going directly to the mental health facility. Just a thought.

I told my mom someone could be receiving this money! She said noooo. But I disagree!!! How on earth will I be able to find it without POA!
And YES! I agree....I have no idea if he will stay at this facility. I just don't know what to do! That is a lot of money and without it, he can't go to this facility anyway and UNFORTUNATELY, he will not qualify for Medicaid because his income is way too high according to his 1099. So it's a catch 22. This has to be most frustrating thing I have ever given be through.
i made another posting about my dad a week or so ago... check that out.
Thanks for responding!

After reading your profile about your situation.  Your Dad's money could be anywhere--Florida, Georgia, Chicago...  Does your Mother or brother have any idea who might be your Dad's POA?  He might not have a POA considering his bi-polar mental problem.
Do you think that your Dad will even STAY in AL once he is admitted there, or will he leave the AL during one of his manic episodes?