<prompt> Human: My dad is 65, permanently disabled, a home owner, and is living off social security and disability insurance payout 2800mo. He has 30k in credit card and medical debt, and no savings. In June 2016, his disability policy will end payout and his income will decrease to 1600mo. He owns his car and has about 30k in equity in his home. However, come June, he will no longer be able to afford to be a home owner. His health is a whole other story. I drive an hour round trip every day to check on him and administer his medications. I have found him an apartment down the street from us, and will be moving him there in the next month to ease the travel time commitment as his domestic needs will no doubt increase.He has recently given me control of his finances. My goal is to pay off his debt, and control his spending by giving him a weekly allowance for personal things and then set up all his bills on autopay. My big question here would be, whats the best way to get him out of debt while preserving all his equity? His future is no doubt in need of a medical emergency fund which I would like to create from his home equity after sale. For someone in his condition who will never own a home again, is bankruptcy the best option? Or how successful can debt reduction negotiations be?  <response>: I would recommend consulting with an elder law attorney. They can help you get set up with power of attorney documents, which you will likely need when your father becomes incapacitated. They can also give you more nuanced advice about whether to pay the debts andor whether you should try to save. As others have pointed out, the credit card debt is not inherited and basically dies with your father. Also, he should qualify for Medicare and possibly Medicaid to cover any expenses not covered by Medicare. If youre trying to get him on Medicaid its better not to have the emergency fund - talk to the elder law attorney more about that.You can also look into getting him into subsidized housing for the elderly or disabled. Google senior housing your county to see whats available. Rent is usually capped at30 of the persons income, but wait times to get accepted are typically in the 1-3 year range. 