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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Is your marriage or your sisters marriage at risk right now?[/quote]

Nobody's at this point, though hers marriage is much younger (i am married 14 years, kids house, no issues, she married few years , no kids, some flights, but likely just early marriage fights though). We are not thinking one of us will divorce, but my parents want the money to be put in our names and held in a joint account between her and me.

Here is full description of that money. Money technically is hers (my sister's) - I was given some amounts over lifetime as gifts for major life events (graduating master school, marriage, having each of our kids, and such). My parents determined that my sister will get exaclty same total amount from them as gift (technically in their mind it is already hers even though she may not have those life events :-)  as many kids if any as I do, she never graduated from higher education etc). Fact is that even though financial gifts were given in association with significant events in my life, the same money goes to my sister without regard if she would have same events. That is how it always was in our family from prior generations - all kids get equal.

My sister is VERY sloppy with money, she may easily decide to buy nicer car with unexpected financial gift rather than saving for future down payment, or kids and such. Obviously, while parents want her to know she has the money and we both are equal in their eyes, but they also want to make sure the money will not be just spent. They trust me to watch after her and want to make joint account for both of us, where most of the money will be hers, but I will help her not make decisions on a moment desir and spend all the money on BMW while they live in a so-so tiny apartment with near zero savings. I hope this makes sense. :-([/quote]

They could put the money into an account in their name, with a "Transfer on Death" to her, so when they pass it will go straight to her directly.  That would be one way to ensure she knows the money is hers, but she won't be able to spend it now.   If it's joint with the two of you, she could still easily take it out and blow it on a car.    I assume in general terms, we're discussing something more like $50,000 rather than $500,000, yes?[/quote]

we are discussing somewhere between $100K and $200K (not sure of exact number but feel it is about $150K of hers and about $50K mine). I thought if the account is put as "Larla AND Marla" then, money cannot betaken without BOTH of us present. We had that issue with my husband when the bank put "AND" in our new account which prevented either of us take money without other being present, we had then to change it to "OR" (did not know that when opened account and did not pay attention to ANd or OR). [/quote]

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