How do I handle my father's excessive donations to charities?
My father is in the middle stages of Alzheimer's. One of the things he is doing is writing checks to charities all over the country. He would NEVER have done this before. Last winter his bank called me concerned because he had overdrawn his checking account. He had given over 40,000 dollars to different charity's. Talking to him is getting me no where. Do you have any advice how I should deal with this.
Expert Answer
I've had several clients with similar experiences. You have to get the checkbook away from him and take control of his financial affairs. Do you have a durable power of attorney? If so, you can add your name to the account. But you must get the checkbook out of his hands. If he won't give you the checkbook, you can close the account and open a new one in his name with your name on it as well. If you don't have power of attorney, you will need to have his cooperation, if he is capable, or apply for guardianship. Guardianship is a drawn out, costly process, so you don't want to go down this road unless absolutely necessary.