My husband's family wants him to sign a blank power of attorney to get a loan for his mother's house that is in trust. We haven't seen any of the other papers and don't even know what type of trust it is. We don't need another loan on our credit and have suggested that they do a reverse mortgage, so that no one would be liable, but they said that their bank has told them that that would be a mistake. Is that true?
We don't have a trusting relationship with them and are considering giving up our share and staying out of the entire situation. What should we do? Is there any way that we can help out without getting another loan on our credit?
You are right not to want to sign any legal document that has not been completed, or one to which you don't agree. Unless you are able to review and understand the trust documents, and know whether you would incur any personal liability, you should not proceed. We strongly advise that you make no moves without legal advice.
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You are right not to want to sign any legal document that has not been completed, or one to which you don't agree. Unless you are able to review and understand the trust documents, and know whether you would incur any personal liability, you should not proceed. We strongly advise that you make no moves without legal advice.
