Which way shouldI go in handling my eldery father’s small estate?

UPDATED: Oct 10, 2011

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Which way shouldI go in handling my eldery father’s small estate?

He has negative equity and just lost his wife. She had a pension and SSI. Should I begin with loan modification or just foreclose on property. He is 82 years old and not in great health. Also, his memory does lapse on many occasions so finding all of his documents will be a task. I am overwhelmed.

Asked on October 10, 2011 under Real Estate Law, Florida


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

The first thing that you need to do concerning your farther's current health and finances is to have him sign a proper power of attorney on your behalf where you are his agent in fact over his physical condition as well as his assets.

In order to do this, you should consult with a Wills and Trust attorney to have a proper power of attorney drawn up as well as to discuss your father's affairs. It is very important that you take your father personally to this meeting with the desired attorney to assist you both.

At this time you, your father and the attorney should discuss the desires of your father as to his estate, its size and the best way to place it for in order for his future health care and eventual distribution.

Good luck.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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