Since my mother sold her house, and in assisted living, her will is not clear on what happens if she sold her house. She was obviously planning on living in her home until her death and will state that. Now the scenario has changed.
Can my mother deposit the proceeds into an account " payable upon death" for her 3 children?
What is the best way to do this, in order for all 3 children get equal shares?
Is it possible to name my mother as the owner of a bank account, or CD, and then name 3 beneficiaries, OR can you have a joint account with 4 people, mom and her 3 children?
Please advise. Mom says she will do whatever it takes to make it equal. She has made it clear to me that she does not want only one child to get everything, but realizes her will now does not state that. Since she has only her house money, she doesn't know what to do. Probably just opening the right type of account makes sense. Your advice is appreciated.
Can my mother deposit the proceeds into an account " payable upon death" for her 3 children?
What is the best way to do this, in order for all 3 children get equal shares?
Is it possible to name my mother as the owner of a bank account, or CD, and then name 3 beneficiaries, OR can you have a joint account with 4 people, mom and her 3 children?
Please advise. Mom says she will do whatever it takes to make it equal. She has made it clear to me that she does not want only one child to get everything, but realizes her will now does not state that. Since she has only her house money, she doesn't know what to do. Probably just opening the right type of account makes sense. Your advice is appreciated.