Just left the estate planning attorney's office. The office will be drafting my estate plan documents.
I am divorced and my only child has an illness which prevents her from being legally competent.
I am planning to set up a trust with a bank for future disbursements after I am gone from this mortal coil. Attempting to avoid any family discord by having this handled by an outside neutral party.
My sister has agreed to act in the role of health care proxy for me.
I'd like to set up a joint bank account for any expenses my sister could incur in making arrangements to have my body shipped back to my hometown, miscellaneous costs, etc.
I know that any two adults can have a joint bank account, but my sister and I live in two different states....so seems like this could become a tax problem? I wonder if something is possible - similar to the credit card arrangement where the card is one person's name, but the other person is an authorized user?
Just thinking off the top of my head here...has anyone here been through something similar?
I am divorced and my only child has an illness which prevents her from being legally competent.
I am planning to set up a trust with a bank for future disbursements after I am gone from this mortal coil. Attempting to avoid any family discord by having this handled by an outside neutral party.
My sister has agreed to act in the role of health care proxy for me.
I'd like to set up a joint bank account for any expenses my sister could incur in making arrangements to have my body shipped back to my hometown, miscellaneous costs, etc.
I know that any two adults can have a joint bank account, but my sister and I live in two different states....so seems like this could become a tax problem? I wonder if something is possible - similar to the credit card arrangement where the card is one person's name, but the other person is an authorized user?
Just thinking off the top of my head here...has anyone here been through something similar?