consolidating my parents credit cards
My Dad has alzheimers and is in assisted living. My Mom is the additional user on his cards.
He is a retired Navy veteran and still gets his military retirement. My Mom wanted to cancel his cards but he set up all the household bills to be paid from them and
I told her if she cancels them, she. Is that possible without making a big mess of all the bill pays?
Terry Says
This is a bit of a confusing question. But, first, the very fact that your Dad set it up this way should let you know that he didn’t think your mother could handle the bill-payment task. It was thoughtful of him to make it automatic.
So, the first answer is NO: This plan should not be changed. I presume the card payments are set up out of the same account that receives his benefit deposits. That should continue until his death.
But this is a head’s up for you — Your mother isn’t up to the task! Now is the time to get on top of her financial life. Make sure you track her spending, and bank accounts. Become a signer on HER accounts so you have access in case she gets confused.
And this is the time to double-check their entire financial situation, and make sure there is a current will or revocable living trust. Likely you should have his healthcare power of attorney, and hers, as well. You need a trusted elder-law attorney to guide you now, when it is much easier than it will ever be in the future.
Check out these resources:
https://lawelderlaw.com/
