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Eldercare
Reply to "Major financial mistakes/scams--should adult child take over?"
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[quote=Anonymous]My Dad has recently (last few months) charged $60,000 in political contributions to his credit card. It's unclear exactly how much he was intentionally donating and how much was due to "recurring donations"--but basically it's hundreds (possibly thousands) of small donations ranging from $3-100 each. My dad (and mom who has severe dementia) live on the west coast and my brother who lives local to them has been doing most of the work of overseeing them My brother is an authorized user on one of the bank accounts, but my dad has other bank accounts, plus several credit cards so my siblings and I assume there could be other financial disasters we don't yet know about. In the bank account my brother can see, my dad has written at least $800 in other political donations in the last ew weeks. When asked about it he gets very angry. He'll admit it was a mistake to donate that much money and that he has tried to stop them from charging the donations and that he has "written them letters" asking them to stop. He has told my brother to "stop being mean to him because he's still learning" or also that he "has learned his lesson." He would definitely resist giving my brother (or any of us siblings) full control/view of all his accounts. If you had an elderly parent make major financial mistakes/been scammed, did you or your siblings take control of their money? Either full control or even just "oversight" over everything? Did your parent agree to this, or did you have to go to court?[/quote]
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