Hi,
Over thanksgiving, I found out some more details about a family member who is going through a rough time right now, some physical disability and some cognitive issues, I think.
I believe she's in some kind of 'program' and gets a room at a group home and medical expenses and such, and I get the impression she can't even have more than a few thousand dollars to be in this program, and I'm not sure if there's a cap on how much money she can accept as a gift.
I'd like to find some way of giving her small, periodic amounts of money - $100 a month, say - in a way that will end-run around those rules, and give her a reprieve from having, basically, no money at all.
I was thinking of opening a new credit card - maybe a prepaid one - in my name that she could have access to use (maybe it needs to be open in both of our names?) at a very low limit ($200-300), paying it off each month (although I'd hope it comes to around $100 or so).
I'm not so sure how good with money she is, but if she abuses my trust, I can just pay the minimums and she won't be able to charge more, or cancel the account and pay it off.
Is there some (inexpensive, I don't know the amounts make sense to bring a lawyer in to set up a trust or something) other mechanism I don't know about (giving her access to withdraw by debit from a bankaccount that's in my name) that could help and wouldn't cause her any trouble?
Submitted November 24, 2017 at 05:23AM by DerSpinMeister http://ift.tt/2BilkIV
