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Reply to "What’s the process of inheriting money?"
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[quote=Anonymous]When my final parent passes, what do we need to do to inherit? ***There is an updated will and trust in place.*** ***I am main executor and sibling is named to do it if I don’t want to.*** We are beneficiaries on all retirement policies so those will be distributed to us through the financial companies, I think?? There is quite a bit of cash in a bank account. Our names are on this account, which I now know is not ideal. But I assume we can roll this over into our accounts? When the parent passes, I know I’ll be stressed and my sibling’s anxiety will spiral so I’d like to have an understanding of this now. Yes, I can hire an estate lawyer and we did that to create the will but now I am wondering about the technicalities. [/quote]
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