Legal Question in Wills and Trusts in Massachusetts

Re: bank accounts beneficiaries

As stated by the other attorneys, you could change accounts, add your sister as a joint owner, or an "in trust for" beneficiary, although all of these options involve restrictions and risks for the funds.

It sounds as if you are single and looking to set up protections for your sister. You should consider setting up an estate plan for this. Our office specializes in this and I would be happy to help you in any way.

Good luck.

Re: bank accounts beneficiaries

A few options: (1) move the account elsewhere; (2) put your sister on as a co-owner (which is risky, since her creditors could then get the account) or (3) have a will which specifically leaves the account to her.

Please call me if I can be of assistance with your estate planning needs.

Re: bank accounts beneficiaries

Attorney Golden has correctly stated the options available to you.

I would advise that you take a look at your larger estate plan, and see whether and how this intended gift fits.

If you have not already done so, perhaps you should put all your wishes in the form of a will. If you already have one, perhaps it is time to update or revise it.

Please give me a call if I can be of any assistance. I am located in North Quincy.