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Reply to "How do you inherit money?"
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[quote=Anonymous]I'd like to understand this now while I'm not grieving as opposed to after my father dies when I'll be a mess! We have a joint account with our father. I know this isn't advised, but it's what we have now. One of us is the executor. What do we do with the checking/savings accounts? When our father passes away, do we wait a bit to pay off his bills (funeral, credit card, assisted living) and then write ourselves a check to divide the remainder of the account into two? The investment accounts will be divided into two by the investment firm, and they will create accounts for each of us since we are beneficiaries. So, we don't have to do anything there. [/quote]
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