I have several bank accounts which I share with my elderly father. His health is failing and I want to move funds from these accounts to protect all of the assets from being consumed by health costs. Is it legal for me to do this?
Answer
Do you have a power of attorney which allows you to make gifts to yourself? If not, then transferring dad's money, even if the account is joint, may have negative consequences. This is very fact specific and you've really got to be careful here.
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