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Hi all,
Not sure if anyone can answer this...but i thought i would put it out there.
I share a bank account with my mother...as she gets older, i was concerned about people ripping her off. (i already had a Dentist, take her to the bank and get her to sign over a check to him for dental work...its a long story but).
So i was added to the bank account so that it now requires 2 sigs to get any money.
I was wondering, if my being on the bank account, along with my mother, was good enough to avoid probate?
What about taxes on that account when she passes...will i have to pay taxes on the account when this event occurs?
thanks for your constructive input...
~T
Not sure if anyone can answer this...but i thought i would put it out there.
I share a bank account with my mother...as she gets older, i was concerned about people ripping her off. (i already had a Dentist, take her to the bank and get her to sign over a check to him for dental work...its a long story but).
So i was added to the bank account so that it now requires 2 sigs to get any money.
I was wondering, if my being on the bank account, along with my mother, was good enough to avoid probate?
What about taxes on that account when she passes...will i have to pay taxes on the account when this event occurs?
thanks for your constructive input...
~T
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