Protecting My Father's Assets

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June 21, 2018
1 upvotes

Hi All,

I would have put this on MRP if I could but I don't think they allow this kind of question there. I need advice on how to protect my family's assets best and I don't trust general reddit advice subreddits. My dad has become demented in the past year, I set up some cognitive tests and I am a doctor, and I am really afraid of what he might do or whether women will exploit him for his money. I need to figure out how to protect his assets but he refuses to set up a will or set up a trust. What should I do in terms of legal channels? His family also has a history of stealing his inheritance.

Also in general, how do people protect their assets in case of death or illness?


Post Information
Title Protecting My Father's Assets
Author EscapeTheGoat
Upvotes 1
Comments 2
Date 21 June 2018 01:26 AM UTC (2 years ago)
Subreddit askTRP
Link https://theredarchive.com/post/100596
Original Link https://old.reddit.com/r/asktrp/comments/8sntkx/protecting_my_fathers_assets/
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Comments

[–]Senior EndorsedVasiliyZaitzev3 points4 points  (1 child) | Copy

You should try r-legaladvice.

That said, you go to a lawyer who knows his shit and have a guardianship set up. This won’t be easy because your dad is going to argue that he is not, in fact, a loony tune, and if he wants to blow his money on strippers and booze, we’ll, that’s his business.

Note: Courts don’t generally like to break out the straightjacket unless somebody is really cuckoo for Coco Puffs.

[–]Zanford0 points1 point  (0 children) | Copy

This is a question for a lawyer and estate planner (there are lawyers who specialize in estate planning). The answer details depend on your state/country and other family situations, like if there are rival relatives who will try to screw you



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