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Author: Adenovir Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121146  
Subject: Re: Large JTWROS Account Date: 8/22/2003 7:43 PM
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Debra,

You solved the problem when you said:

"JTWROS is a very dangerous method of estate planning. The sons are part owners of the account. The assets are at risk if any of the sons are sued, divorced or declare bankruptcy. If any of the sons die before him, the assets might be included in their estate."

I told him this, and that was the end of it, he realized that it was too risky to have his money exposed like that (since I'm a physician in a very litiginous state, even more so). He didn't say that he would look into estate planning, but he did say he would take action.

As for a living will, he signed one when he was in the hospital 5 years ago, designating me as the decision maker.

Thanks!

Adenovir
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