My mother is selling her home. Should she put all procedes in the bank with her 2 sons?

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My mother is selling her home. Should she put all procedes in the bank with her 2 sons?

As of now my mother stays with my brother. If she sells her
home and places it in the bank shouldnt both dependents be on
the same account. Her will says that when she passes the
house will be left to both of us, but I want to protect
myself and not be excluded. How can I make sure the money is
not taken with me left out. Is there a way to lein the house
so that I will be included. Thank you for your help.

Asked on January 28, 2018 under Estate Planning, New York

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

You are doing some estate planning and that is great, but Mom needs to be involved.  I can understand your concern that your brother won't share if the account has only their names on it.  You have no right to put a lien on the house at this time as you have no interest in it and the lien law does not recongnize that type of interest anyway.  I would speak with Mom and your brother in a way that is not agressive and rather thinks of Mom only.  Like should she need assisted living at some point then she might wat to put the money in a trust of sorts and take it out of her name.  She can pre-pay funeral expenses too.  Good luck.


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