Mental Incompetency of IRA owner
Hi. I was approached today by a fellow who’s father is suffering from dementia but who still has enough wherewithall that he could blow through his entire IRA on something stupid. Son has durable POA over father’s financial affairs and could move the IRA somewhere and not tell him but is looking for a better solution, one that might involve less PDO (“Pissing Dad Off”). Any ideas?
Permalink Submitted by Alan Spross on Fri, 2008-04-11 04:08
There may be no solution to maintaining peace in the family, but to be on solid legal ground the son probably needs to file for a conservatorship, if account access by his Dad is to be denied,