Re: Maybe depressing question
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ETA: for our kids, we have set up trusts. Each of us has one with the other as jt. trustee. PoAs, living wills, health proxies, all set up with each other. If something happens to one of us, the other has the right to accept or not some percentage of the deceased person's trust. The rest goes automatically to the kids. Everything is now in the name of the trusts except for our cars. That should all be relatively simple for both the living spouse and the kids.?
On Tue, Aug 17, 2021 at 9:38 AM Jaya < ermabom@...> wrote: My dad and I are joint on his account here and his investment account with my brother is also joint. However, he has an account in India where his pension goes into and that is going to be a bear to fix. Jt. accounts are not allowed in India.?
So we will have to go to his accountant (who files his taxes there) and ask him to do the paperwork - with the death certificate in hand. I suspect someone will have to go to India to take care of it.
Oh,? you all bring up such an important point about passwords.? Yikes, that's a rat's nest of problems.
One other thing.? When Mom and Dad were in their last 10 years (age 80 or so),? I urged each of them to execute a Power of Attorney, so that their designee could legitimately pay bills and conduct necessary business.? We were lucky b/c everyone was on the same page and they trusted that my sister and I would act to protect them.
All I can say is that it really came in handy, especially when Dad was widowed and had reached 100.? It made life much easier for him and for me.? I kept a scan of it with me at all times and I was amazed how often I needed it.
My heart goes out to all of you who are dealing with aging parents.? I miss my Dad every day, but I do not miss the stress of getting everything organized and helping him transition into his final years.
Mary.
Mary.
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Jaya
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