Sharing The Account With A Designated Child When Mom or Dad is in failing health, the adult children may think it is a good idea to put one or more of them on the parent's account and make it a joint account. The idea is that the designated child can deposit the...
I wrote the book on Minnesota probate.
Family Inheritance
Joint Account To Pay For Moms Care
Daughter Is Put On Elderly Mom's Bank Account Putting a sibling's name on Mom's bank account can be a very bad idea. The solution seemed simple, as Mom was in poor physical and mental health. Daughter Amy was put on as a joint owner on Mom's $300,000 account. Amy's...
Who Gets To Use The Family Lake Cabin?
Using The Family Cabin Mom and Dad have passed away, leaving the behind the family cabin. Now that summer has finally arrived, the cabin on Round Lake is ready for fishing, waterskiing and canoeing. You and your children have been eagerly awaiting the opportunity to...
Estate Planning To Avoid Lateral Transfer Of Wealth In Blended Families
What Happens After You Pass Away? When you die and if your spouse remarries, will your spouse's new husband or wife and the stepchildren inherit your children's share of the family inheritance? This may be difficult for some people to think about, but it is something...
6 Ways To Avoid Identity Theft
A Damaging Crime One of the most heartbreaking of property crimes is the current wave of thefts of identity. This crime is humiliating and emotionally devastating to the victim and his or her family. Besides that, it is also enormously costly to the victim's family...