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Personal Finance (Not Investing) • Parents' Financial Situation/Crisis [Heir to estate with more debt than assets]

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I don't know about what level of involvement you may be asked or required to take with their estates.

But you may also want to think about what level of involvement you may be asked to take on with respect to their medical care, if they ever are deemed not to have capacity to make their own decisions. This may be particularly an issue with the surviving spouse. Hospital social workers would try to locate you and your brother and any other siblings to see if you are willing to make medical decisions for the parent (state laws probably vary, but in my state, the majority of the available next of kin in the same class can make the decision). You should think now about whether you are willing to do that. I would tell your parents if you are not.

Statistics: Posted by tashnewbie — Thu Mar 14, 2024 8:13 am — Replies 20 — Views 2133



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