1.Out of state will 2. 2nd name of ckg acct
1. My current will was drawn up in Illinois. I now live in Florida. Should I update to a Fl will.
2. My bank acct & ckg accts are in my name only. I’m 81yrs old. Should I put someone else’s name on them. Can a 2nd name be put on your ckg acct without showing on your checks?
Terry Says
First, you should update your will to reflect your Florida residency. You’ll need an attorney who is registered in Florida. Find one here: https://search-attorneys.com/
Second, you should consider a Revocable Living Trust, instead of a will. Then if you have your accounts in the name of your RLT, your named successor trustee can act if you are incapacitated. Please watch this video that explains:
https://www.terrysavage.com/wp-content/uploads/2022/10/Terry-Talks-Wills-Trusts-Estate-Planning.mp4
So your most important issue is one you did not mention: Do you have a trusted person to act as your successor trustee (or executor if you stick with a will)? Is that person also someone to whom you will give your healthcare power of attorney.
This is more than just a question of names on accounts — it’s time for a major overhaul of your “estate plan” and a consideration of “what if”.
