California | Wills and Trusts
Legal Question
My mother has two accounts at her bank. One is a checking account with about 40,000. The other is a savings account with about 450,000.
My wife is on both accounts and does 100% of the banking. Most of it is check writing on the checking account to pay my mothers bills etc.
When my mother dies, what needs to be done in order for my wife to get control of the savings and checking both? I think I read in another post that it is up to 100,000 there are no problems but this is a much bigger chunk of change here. My mother is still alive so any changes that need to be made she can make them. She has terminal cancer and has been given about 3-6 weeks to live so we are trying to make sure there isn't going to be any issues down the line. Is probate something that will happen with this money since it is over 100,000? Is there anything we can do before hand to prevent probate? Maybe split the money up, put it in multiple accounts etc?
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Read More Answered By: George Shers |
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