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Posted: 8/28/2017 11:08:07 PM EDT
My grandmother is in her mid 80s and not in very good shape. She has a will that states her house is to go to me and everything else (stocks, mutual funds, and savings) is to be split 50/50 between my uncle and I.

My issue is that my uncle is the executor of the will and I do not trust him to follow my grandmother's wishes. I have spoken with a lawyer a while back who says that my grandmother could set up a life estate deed so that I would basically be a co-owner and the house would pass to me and avoid probate upon her death. This seems like the best option to me as far as the house (please advise me if I'm wrong).

My question is what about the stocks and bank accounts? Currently my uncle's and my name are on the saving and checking account along with my grandmother's but I'm unsure if they  are Transfer on Death and I don't believe my uncle or myself is listed on the stocks.

Would it be safest for me to have all accounts as Transfer on Death to my uncle and me and we avoid probate or would probate offer me more protection/assurance of fulfilling my grandmother's wishes?
Link Posted: 8/28/2017 11:31:09 PM EDT
[#1]
What you can do is get a new deed for the house where you are joint tenants with right of survivorship. What that does is when she passes the property automatically shifts to the new owner with no probate, no executor, etc because the deed supersedes the will and the remaining tenants full rights become vested. You will need to go to the land deeds dept of your/her town and have a new deed drawn up.

Good luck with it, the passing of a loved one brings out the ugly in people.
Link Posted: 8/28/2017 11:33:00 PM EDT
[#2]
For the accounts, you will have to see if the bank recognizes JTWRS (joint tenancy with right of survivorship) that can be something that is tricky especially if you have to account for hers, yours, and his rights as 3-way tenancy.
Link Posted: 8/29/2017 12:37:05 AM EDT
[#3]
You can/should go the JTWRS route on the bank and brokerage* accounts.  Upon her passing the financial institution(s) will ask you what % was hers and yours to begin with and how it is to be divided after her death.

* I assume her stocks are held in a brokerage account as opposed to physical certificates.  If they are not, get them transferred to a brokerage firm now; it is more difficult to do so after her death.
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