Legal Question in Wills and Trusts in Alaska

Taking care of Mom

My sibling & I were give ''x'' amount of $'s each from a life insurance policy on our father. The money was to be put into CD's and not touched, unless our Mother needed something. Upon the passing of Mom, any unused monies would be ours to keep. I am unmarried, I have a will leaving the money to my adult child; ITF Mom. Problem is; my sibling is married, does not have a will, my concern is if something happens to my sibling, will the spouce be able to take the money with no regards to Mom's needs? If so, how do I go about changing this so that Mom & her best interest is taken care of? I don't want to start family waves, but I do not trust my inlaw to take care of Mom. My Mom know's she made a mistake setting things up this way, but does not know how to change them now that the monies are in our names. I there an easy solution? Any advise is greatly appreciated. Thank you.


Asked on 12/01/05, 3:17 pm

1 Answer from Attorneys
Kelly Henderson

Re: Taking care of Mom

If the CD's are in the name of you and your brother, either of you could take the funds at any time. If one of you should die, then the estate of that person would have that right. You might want to list Mom as beneficiary of the CD so that if one of you dies Mom gets your share directly. I realize I do not have all the facts here and I think you, your sibling and Mom need to discuss this matter after a consultation with an estate attorney. There are several issues to consider which I do not have time to fully detail.

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Answered on 12/01/05, 3:31 pm


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