My son is my payee but misappropriating the money
Question Details:
I retired from the state service 10/2008. I have a disability and am stable now but I still need a payee. My oldest son has been my payee since 2006. He would not show me statements until now because he has been using my money for his personal things. He asked for about 3 weeks to buy a boat and I don't remember saying yes you can buy it with my money for $5,000. We are doing a contract so he pays every cent back. What are my legal rights? How do I find another payee to take care of my two bank accounts? Would the financial adviser at my banks be able to help me manage the money?
Insurance Law Law Answers
If your bank is willing to be the payee, that would be an excellent choice, since it would probably be cheaper than any of the other realistic alternatives such as an independent accountant, if not free; I'm assuming you don't have anyone else you could trust with this.
You have an absolute right to those statements, and to get back any money of yours that wasn't spent for your needs. I would strongly advise talking to a lawyer who has experience in "elder law" (an internet search for that, in your area, should give you several choices), who can explain exactly what your rights are, and who can make sure that the contract between you and your son is worded in a way that protects you fully, if that's the approach that makes the most sense here.
Related Insurance Law Questions
Didn't find your answer? Ask.
Top Ranking Attorneys
- Hong Shen210 Answers|Points 10500Gold Contributor
- Joseph Gasparrini46 Answers|Points 2200Bronze Contributor
- Kelly Broadbent81 Answers|Points 4000Silver Contributor
- Russ Pietryga79 Answers|Points 3900Silver Contributor
- Shawn Jackson17 Answers|Points 850Bronze Contributor
- Glenn M. Lyon, Esq.27 Answers|Points 1330Bronze Contributor
- Hong Shen210 Answers|Points 10500Gold Contributor
- Kelly Broadbent81 Answers|Points 4000Silver Contributor
- Russ Pietryga79 Answers|Points 3900Silver Contributor
- Sharon Siegel62 Answers|Points 3090Bronze Contributor
- Michael D. Siegel56 Answers|Points 2750Bronze Contributor
- Paula McGill50 Answers|Points 2500Bronze Contributor
Are you a lawyer?Want to be featured here? Sign up for a free profile and get started today! Click Here
More Questions Like This...
 |