Kathy was shocked when she read her mother’s bank statement. How could it be there was only $100 left? Where did the other $50,724 go? The family was planning to use the money to pay for care to assist Nancy, age eighty-six. She was having trouble walking and was so forgetful she could not be…
That August Sunday, George and Alice were still distressed after the party the previous day. Now in their 80s, they had just celebrated their 65th wedding anniversary in the back yard the day before. All the family was there: their three children Roberta, Wes, and Sara, seven grandkids, and four great-grands. The grandkids decorated the…
By Susan M. Graham, Certified Elder Law Attorney, Senior Edge Legal, Boise, Idaho A big problem with jointly owned bank accounts is it gives the joint owner, who did not contribute any money to the account, the belief that the account funds are immediately available and will automatically pass to the surviving joint owner. Idaho…
By Susan M. Graham, Certified Elder Law Attorney, Senior Edge Legal, Boise, Idaho Need money? You may be able to withdraw $100,000 from your retirement accounts due to Coronavirus. Last month the IRS issued a reminder that the CARES Act can help eligible taxpayers make withdrawals from their retirement accounts with favorable tax treatments. …