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URL:  http://boards.fool.com/sprexumm-ill-open-a-ingdirect-savings-account-20864146.aspx

Subject:  Re: Want to give sister retirement and/or down p Date:  6/7/2004  1:54 AM
Author:  FoolishMicheal Number:  72139 of 123001

sprexumm,

- I'll open a INGDirect Savings account for her, as a joint account with both me and my sister on it. She'll be the primary account holder, so that the money is in her name before the wedding. With the ING accounts the only way to get money in or out is to link to an outside checking account. We will link to my checking account only, which should prevent her from being tempted to withdraw money. There are probably legal ways that she could access the money with a lot of effort without going through me, but I think the barriers are high enough. I will fund the account with $17,000 and we have the understanding that money is to be withdrawn only for a house deposit or to fund her IRA.

I am a pessimist and you are more trusting with your sister than I would ever be with my siblings. As the primary account holder, your sister would not require anything from you to close the ING account. She could also try to drain your checking account