QUESTION
Can we stop future purchases on credit other than doing a conservatorship?
Asked on Oct 25th, 2012 on Estate Planning - California
More details to this question:
My mentally slow brother bought car with bad credit and repossession on record with no way to pay for it.
12 ANSWERS
Leonard A. Kaanta
No.
Answered on May 28th, 2013 at 2:31 AM
The only thing you can do short of filing for appointment of a conservator is to get a power of attorney from him and help him make all purchases and financial decisions. If he is determined to act on his own, however, a power of attorney does nothing to stop him from doing so. It sounds like a petition for conservatorship is the way to go.
Answered on Oct 31st, 2012 at 12:41 AM
Shadi Ala'i AlaiShaffer
If he has the capacity to enter into a Power of Attorney for Finances, he could appoint you or whoever he chooses as his "Agent" but that does not prevent him from taking such actions - the best way is either through a detailed estate plan and trust OR yes through a conservatorship. Seek legal advice or consult to see what your options are.
Answered on Oct 29th, 2012 at 7:50 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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Probably not although with a repossession on his record his credit will be bad and it will be increasingly harder for him to get credit.
Answered on Oct 29th, 2012 at 7:49 PM
Business Law Attorney serving Livonia, MI
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Gerald A. Bagazinski
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A conservatorship may be in order. I assume he is managing his own property and he is unable to do so.
Answered on Oct 29th, 2012 at 7:49 PM
Administrative Law Attorney serving Sherwood, OR
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Employment Law Professionals Northwest LLC
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Generally the only way you could prevent these kinds of purchases is through a guardianship; however, that should be carefully considered. This advice is based on the limited facts that you have provided, additional facts may change the advice. We are not providing you legal advice, rather we are responding to your set of facts based on general legal principles. You should not rely on this information without consulting an attorney and providing the attorney with a complete set of facts.
Answered on Oct 28th, 2012 at 2:39 AM
Bankruptcy Attorney serving Alpena, MI
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Carl C. Silver Attorney at Law
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It will be very hard to stop your brother from using his credit even if you are his conservator. Even as his conservator you would have little or no knowledge what credit is available to him until after he incurs the liability.
Answered on Oct 28th, 2012 at 2:39 AM
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In Nevada, that type of proceeding is referred to as a guardianship. Unless his ability to contract is taken away through that type of proceeding you really cannot prevent him from obtaining credit. In Nevada, special guardians may be appointed with limited purposes and powers. It is possible to craft the special guardianship to ensure that he is able to manage smaller amounts of money, but cannot contract or obtain credit. If you wish to pursue that type of case you need to locate an attorney with the specific experience necessary to craft the special guardianship for you.
Answered on Oct 27th, 2012 at 2:42 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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No. Unless you can be in your brother's hip pocket and keep an eye on him day to day, you'd have to seek conservatorship and take his finances out of his hands. I don't know whether that's really an option, anyway. Lots of people make bad credit decisions, it doesn't necessarily show financial incapability. For a hundred years "buyer beware" was essentially the rule in contract law; in this case, it's more like "seller beware." Anyone who doesn't have the good business sense to check someone's credit and ability to pay before extending credit gets what they deserve.
Answered on Oct 27th, 2012 at 2:05 PM
If your brother is an adult, a conservatorship which takes away the ability to contract is your only option.
Answered on Oct 27th, 2012 at 2:00 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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You could use a durable power of attorney, giving you the power to act on his behalf but it is not as effective as a conservatorship, because it is revocable anytime by your brother. You need to obtain the conservatorship of his person, if you want to have control of his actions.
Answered on Oct 27th, 2012 at 1:30 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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Probably the only way you can stop things like this would be a conservatorship. Sorry.
Answered on Oct 27th, 2012 at 1:30 PM