Legal Question in Wills and Trusts in Louisiana
In Louisiana, my mother owns stock through a company DRIP (not in a brokerage account) and has me registered on the account. It is titled as Joint Tenants in Common. The account is under her SSN, so she pays the taxes on dividends. When she dies, how is this account treated? From what I have been reading, the stock does not go to me, but rather it goes into probate. Is this correct? If so, what good is having me listed at all on this account?
1 Answer from Attorneys
It depends on the documents your mother signed when she set up this account. She may have listed you as a beneficiary of the account, or as a co-owner. I can't fully answer your question without seeing those documents.
If your mother wants you to become the owner of this account at her death, the safest thing to do would be for her to have a will leaving it to you.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
