I respectfully disagree with some of the things my colleagues said. Estate planning can be used to "help" with the problem in tandem with a finance plan but it won't solve overspending by itself.
First, dealing with finance - one trick you may be able to use is to have her either balance the checkbook or do the bill paying. That way she is constantly aware of what is coming in, and what is going out. If you can calmly teach her how, this may help
Second, speaking with a financial planner...
You can create a post-nuptual agreement that any debt accrued by either party is their sold debt alone. You can also make sure that credit cards are on the sole name of one person or another. You can also create two corporations set up to keep your expenses separate from one another and get the CCs in the name of the respective corporations.
Whether a separtion will work depends on the jurisdiction. Some states only call debt separate property once a divorce is petitioned, others when their...
You must report your ownership interest in the home. You can have an attorney contact your trustee to see if he/she would require you to amend your pleadings.
In the alternative, the statute of limitations for bankruptcy fraud is 5 years. Since this was 4 years ago, you can wait to see if anything happens in the next year, if nothing does, then you will not be criminally liable for bankruptcy fraud. Even if there is a challenge, since the lack of listing was inadvertent, you can just amend...
I have a feeling the mortgage holder would want to get consent from all three, as the two CAN reverse mortgage their own shares, but cannot reverse mortgage the third party's share.
Title is also an issue. Presuming that title was tranferred from a probate to the three as tenants in common, and even if it was held as JTROS, the above analysis would stand. If its something oddball, then the outcome may be different.
The person has to give it to you willingly while they have the mental capacity to do so. If the person is insane or otherwise not mentally competent - judge has to declare a person incompetent. If a person is not conscious, then you need to seek guardianship
Yes, you should be concerned. If your brother is trying to coerce your mother into giving him the property to keep it from you, then this might be a strong case for elder abuse, undue influence, and if he is also a POA - breach of fiduciary duty.
Doesn't pass the smell test, so I'd be a little on guard.
You do need a business license. You need to check the zoning for your location to determine if you can run a business out of your home. Usually something like this is ok, but you need to check. Once you know you are zoned properly, a business license shouldn't be an issue.
You do not need insurance, though it would be a VERY good idea. I love new business owners, so if you would like to have a conversation sometime over your business, feel free to call me!
One trust is sufficient for purposes of state law. Whether you should have separate trusts is dependent on your own desires regarding control of the assets.
You will need permission from primary lenders for property that is not your primary or secondary residence.