MY MOM, 85, STOPPED PAYING HER CREDIT CARD AND IS ALREADY $25K IN DEBT — BUT WILL THE IMPACT OF HER FREEFALL PASS TO ME?
https://media.zenfs.com/en/moneywise_327/afc9a2da3a06a1cc09a6bb87c89f042c
✍️ A 51-year-old woman, Jean, discovers her 85-year-old mother, Marie, has accumulated $25,000 in credit card debt after a terminal diagnosis. The article explores the options for debt collectors and how Jean and her siblings can manage the situation.
👉 Debt collectors must obtain a judgment in court before pursuing assets 👉 Social Security benefits and pensions are generally protected from garnishment 👉 Assets in irrevocable trusts or owned by others are not at risk 👉 Families can help elderly relatives manage finances by opening conversations, reviewing accounts, setting up autopay, and considering power of attorney
-- #Jean #Marie #JeffBezos #DaveRamsey #RobertKiyosaki #lifestyle
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