I am in need of help from some of the great minds of the nation. My father has recently been diagnosed with pancreatic cancer which has spread to his liver. He can’t begin chemo because he is on Plavix for a stent he had put in last February.
He moved in with my wife and I for what was going to be a temporary arrangement (he didn’t know he was sick at the time), but this has now turned into a permanent arrangement given his condition.
My biggest concern is that my father has very little in assets, probably less than $1500, but a lot of debt still. He wants to save his disability money so that there will be some money to bury him, but I think that he is SOL as the creditors will claim any money and assets he does have after he passes.
Can he pay me money for rent as his funeral savings or will the creditors be able to take that still? I am trying to distance myself as much as possible from his financial side because I don’t want to sink my family with his debts. Does anyone have any advice or experience that might help me prepare?