I Just Learned My Mom Has a Secret Account With Plenty of Cash. What I Want to Do Next Isn’t Exactly “Fair.”
Slate • • health
Key Points:
- A reader with power of attorney for their mother, who has dementia, discovered an $80,000 joint bank account with a deceased family friend, Candice, and is unsure how to fairly divide the funds between their mother and Candice’s relatives.
- Legally, the money in a joint account typically belongs to the surviving account holder, meaning the full amount is the reader’s mother’s, but ethically, the reader wants to acknowledge Candice’s relatives since they informed them about the account.
- The advice columnist suggests that offering $25,000 to $30,000 to Candice’s family is a reasonable compromise and recommends consulting an estate attorney to clarify legal matters and ensure a smooth transfer.
- Another reader shared a family tradition of passing down baby items, which caused tension when she refused to use a recalled car seat, highlighting challenges in balancing safety concerns with family customs.
