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Have a joint account with my mother she is in a assisted living home because of severe dementia / the account is titled JT WROS and has been for 3 or 4 years can i spend any of that money other then for her care.
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This is a complicated question. Technically as a joint owner, the money is at least 1/2 yours. I presume all of the money in the account is derived from her assets and income. Do you have a power of attorney for her? If so, that gives you certain fiduciary duties to spend her money for her best interests. What was her intent when she put you on the account? Does she have enough in assets to pay for her care? I think this question warrants a more in-depth discussion with an attorney who can then give you some guidance.
Answered on Jan 26th, 2018 at 2:37 PM