Estate Law Questions? Ask an Estate Lawyer.
Hi and welcome to JA. I am Ray and will be the expert assisting you tonight.Overall it is good to keep a journal notebook with receipts for all expenses, what is was for and when you purchased it, etc.Any travel here I would suggest you claim mileage according to IRS guidelines rather than by say gasoline purchases.Here you can claim 56.5 per mile again document how m any miles here , where you went , purpose, etc.Since you know others may question this keeping a good record is essential.I would also suggest you photocpy it periodically or otherwise back it up in case it were to become lost or destroyed.Again you should do this daily or at least weekly because it can be hard to remember all your trips, purchases, what the purpose was, etc.Reference to the mileage issue.http://www.irs.gov/uac/2013-Standard-Mileage-Rates-Up-1-Cent-per-Mile-for-Business,-Medical-and-MovingIf he is on Medicaid this allows you to prove up the expenses for the ME worker if they ask.
The most important rule to keep in mind is not to commingle your own funds with the funds you are managing for the principal. Keep the accounts separate. The easiest way to keep back up records is to run all funds through a checking account. The checks will act as receipts and the checkbook register as a running account.They back up your notebook here.I appreciate the chance to assist you tonight.It has been my pleasure to assist.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).