blackcat20
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- Jan 7, 2011
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As PoA for Mum, a lawyer suggested just prior to mums death that we put most of her money into a joint account so that there was minimal issues for us to deal with post. We just left $5000 in her account and approx $100,000 in that joint account. The three of us, Mum brother and I were all signatories. That was a great move. Took us so much more pfaffing to get that $5000 out than in dealing with the $100,000 and avoiding Probate.
My grandma is quite unwell at the moment and mum has done similar, moving some money out for potential funeral costs so it doesnt get tied up.