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How do you become administrator of your mother's estate if you cannot get a bond because of bad credit? |
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Answer
If your mother is of sound mind (does not have dementia or Alzheimers) then she can sign Administration rights over to you. This means that although you can't loan money you can delegate where your mother's money goes such as investments, repairs on her property, food, insurances, health care, etc., and paying general bills. You don't have to be bonded, just a contract signed by your mother that she legally makes you Administrator now and after her death you will be considered an Executor. You should beable to do this through a bank. Beware! You will be made accountable for any money you spend so save those receipts and all monies must be spent in your mother's best interests! Turn in a statement with copies of these receipts to your bank (if that is where you are dealing) or a lawyer if this is where you are doing business.
Marcy
First answer by ID407240693. Last edit by ID407240693. Question popularity: 30 [recommend question]
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