Originally Posted by Martha
Can she ask WAMU if they will accept a power of attorney from each of you?
That's what I had told my sister to ask about. Everyone but me lives in the greater Seattle area so they could meet at a central banking location. It's not real convenient to all get together since that goes all the way from Bellingham to Buckley but except for me it's not a major deal.
My sister is figuring her taxes and will distribute our shares as after tax. She has almost no income so she's probably the best one to take the hit. The annuity people were very clear that she was going to get the 1099. I'll look into the possibility of her creating 1099s for all of us but I'm not sure it would be much better.
To avoid the gift tax issues, she was going to fill out the form taking it away from her estate tax exclusion. There's no way she'll ever have to worry about leaving an estate any where near $1MM.
Mostly, my siblings are sick and tired of this and just want it over with.
My sister is supposed to go by the bank to see what WaMu's legal review says they will do. They will either let her deposit the check or force us to open a joint account. If its the joint account, we'll have to see if they will work with a mailed/internet application from me.