Can I as legal guardian of my father get a loan in his name for his care?

I am my 90 year old father's legal guardian. He owns three homes but has no cash. He needs to go into assisted living and his income does not cover the care that he'll need. Can I, as his guardian in Florida apply for any kind of loan in his name using his assets collaterol? I don't know what else to do. Yes, I would like to sell one of his properties to pay for his care, IF I can, legally. But I'll need the money before the house sells, I need it next week. BTW, Medicare does not cover assisted living and he gave all of his cash to his housekeeper, so yes, I'm screwed. I'll see my lawyer tomorrow but am pretty anxious about it and just wondered if anyone has any ideas.


You need a power of attorney signed by your dad, if he’s competent. If not, get doctor to establish his condition for competency. As guardian, you are the natural court selection to be named as power of attorney. You will be in charge of his health and his assets. Hope this helps.

Fried Kitten

SPECULATION I am speculating that you have the following option. Suppose that you have the right to sell one of his properties for $100K in order to provide him with healthcare. You can probably take a $25K loan against the property. Pay the initial healthcare expenses. Then sell the property quickly. Pay off the loan quickly so that you aren’t screwed with interest. Don’t sell another property until your next necessary sell-off approaches, or, unless your lawyer/accountant advises you to do so for tax purposes. Obtain advice from your lawyer/accountant before obtaining advice from the bank. Btw, keep receipts for your consultation expenses. You may be able to write them off as part of this ‘care’ expense, or, you may be able to justify being reimbursed for it when inheritance questions are addressed in the future.

Max Hoopla

You should have an attorney involved. Consult him.


No you cannot do that, ask him if he would sell the homes, that will more than cover his care costs.

Spock (rhp)

yes. this can be done. A reverse mortgage may be the ideal thing for your father, and, as his legal guardian, you can sign the documents on his behalf please consult your attorney as to how to handle the legal aspects

A Hunch

" I don't know what else to do." it does not take rocket science to figure it out = SELL THE PROPERTIES. - If the income does not cover the expenses, but there is enough in assets to cover the expenses = sell them.


You could ask a few banks, but I don't think so. Essentially, you're asking the banks to buy (foreclose) on the houses, because there's no other way to pay back the loan.

Pearl L

you could try asking the bank about all this

Nekkid Truth!

You can sell the properties... Use the profits from that to pay for his care. Once that money is soent down, he should then be eligible for medicare, which should cover long term care