My grandmother raised me, and we really only have eachother. I consider her my mother and as such have cared for her for the last five years while her health and mobility have sharply declined. She was recently diagnosed with small cell lung cancer, and combined with her slew of other health issues, it seems like we're in the end game.
I'm writing this in our Local ER waiting for them to stabilise her before being transferred for more surgery and chemo.
We've lived together in a one bedroom $650 a month apartment ever since she lost her independence and needed me around full time. We have a joint checking account, her social security and disability cover most bills, and I have a job as part time staff at my local junior college where I'm 5 elective hours from an associates degree. The plan has been to transfer to a four year school for a comp sci degree.
We've talked about death and grieving, I know what to expect for the most part. I know how destroyed I'll be when she passes. That part isnt as scary because i have an idea what it will be like. What I don't know, is how to deal with our finances before and after she's gone.
Like I mentioned, we have a joint account and I just recently learned how bad that could potentially be. As far as I understand, if she doesn't survive the entire month, social security will contact the bank to retrieve the last payout that was made. The issue being that by the end of the month, our account only has a couple hundred dollars left after bills and groceries. If she were to pass before the third of the month after payment, they'll attempt to reclaim that payment from our account, and as far as social security is concerned, all of the money in a joint account in which the SS recipient is listed as an account owner belongs to the SS recipient. In other words, if she passes before the third of the month after the payment, any and all money in a joint account where she is listed will be reclaimed. This means I'll most likely be left with an account that is in the red nearly 2 grand, with no feasible way to pay it, much less pay bills.
I'm honestly lost as to what to do. I talked to her about closing the joint account and opening two separate ones, and she's completely receptive to it but as I sit here in the ER not knowing if she'll live long enough for us to get in front of a banker, that doesn't really matter. If she passed tonight the scenario I described above plays out.
I need advice. In the back of my head, the plan if she should pass suddenly was always to find whatever full time work i could until my lease was up and then transfer to a 4 year school and live on campus while working, but if I get saddled with an account 2 grand in the red, I don't know how id get through that and not be homeless.
I'm willing to hear any advice anyone is willing to give.
Submitted September 12, 2018 at 11:43PM by BrokeMyCrayon https://ift.tt/2QqJTuP
