My_question_is: Canadian-specific Subject: Probate Expert: taxman at centa.com Date: Thursday July 20, 2006 Time: 08:49 AM -0700 QUESTION: I have an elderly relative who is very ill. She has a bank account over $30,000. In her will she leaves everything to her husband. If she passes away can the money in that account just be transferred to her husband's account? or, would it have to be probated? Thank you very much. ------------- david ingram replies: The bank will want probate papers if she dies with the money in her name only. What she should do is put it into a joint account with her husband now. Another advantage of this method is that it saves half of the money from the public trustee's clutches if there is a very expensive medical or nursing home problem. ------------- As of July 1, I am limiting my replies to three per day (I get up to 50 questions) from non-clients. I am just too busy to answer many questions and am limiting myself to 3 a day except for my regular paying customers. And, if I have already answered one of yours free in the last six months, it is unlikely that the system will let you through with another free one now. I am adding your name to our Q & A list and another question may answer yours. AND, I have answered over 6,500 questions at http://www2.jurock.com/askexpert/expert.asp?aid=121&cid=63 <http://www2.jurock.com/askexpert/expert.asp?aid=121&cid=63> or www.centa.com <http://www.centa.com> (see the archives) and you should be able to find your answer by going there or more specifically, to http://www.centa.com/search.htm However, if you can not find your answer, answers to this and other similar questions can be obtained free on Air on the last Sunday morning of each month (Sunday May 28 and June 25 are next). On the last Sunday at 9:00 AM on 600AM in Vancouver, david ingram will be a guest on Fred Snyder of Dundee Wealth Management's LIVE talk show called "ITS YOUR MONEY" Those outside of the Lower Mainland of British Columbia will be able to listen on the internet at www.600AM.com <http://www.600am.com/> (9:00 AM Los Angeles Time every Sunday morning) Call (604) 280-0600 to have your question answered. BC listeners can also call 1-866-778-0600 free of charge. Callers to the show and questioners on this board may also attend the Vancouver Thursday Night seminars on finance and making your Canadian Mortgage Interest deductible. There are 17 different topics covered and every Thursday night is different. They are presented by Fred Snyder at his office at 1764 West Seventh (the Spence Diamond building at 7th and Burrard) in Vancouver. Call (604) 731-8900 to register and be sure to bring your spouse, significant other or financial advisor. I will be at the Thursday evening following my last Sunday appearance. I will be at the Thursday, Feb 2nd 7 PM seminar to talk for a short time about mortgage interest as a deduction. And, of course, we are always here to prepare your US / Canadian and State returns by emailed pdf files, snail mail, fax or courier. We also do paid consultations by phone or in person for $400 Cdn per professional hour. ------------- David Ingram gives expert income tax & immigration help to non-resident Americans & Canadians from New York to California to Saudi Arabia to Mexico to China or Chile - Cross border, dual citizen - out of country investments are all handled with competence & authority.
