Legal Question in Wills and Trusts in Arkansas

Transfering Assets

My 77 year old Mother-in-law, became a widow in June 2000. She recently fell and broke her hip and is in recovery period. Her assets include approximately $100,000 in CD's, a mortgage free home, value $95,000. She would like to transfer these assets out of her name. What would be the most appropiate vehicle to use to accomplish this?


Asked on 12/25/00, 3:10 pm

1 Answer from Attorneys
Bruce W. McCullough Bodell, Bove', Grace & Van Horn. P.C.

Re: Transfering Assets

The LawGuru posting does not make clear in what state your mother-in-law lives. Regardless, a few questions immediately come to mind. Does your mother-in-law want to transfer the assets? What are her needs for income/principal from the assets? What is the nature of her relationship with the potential beneficiaries? She needs to have a face-to-face meeting with an attorney or financial planning professional to determine what her best course of planning is.

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Answered on 12/27/00, 10:45 am


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