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trukdoc · 05-13-2007, 03:17 PM

My father in law is in very poor health to the point he is having a feeding tube put in and has been bed ridden for nearly a year. Health insurance to cover him is cost prohibitive and they cannot get assistance due to too much cash in their account. They are not rich by no means, but had enough to live descent on the interest and SS. My mother in law has recieved ADVISE from someone that is in no position to do so. The advise is to divide the money between the three daughters and if it is put in a NON interest bearing account there is no taxes on the transaction and of coarse no interest income on this... WHAT? I suggested a finance laywer and so far the ADVISOR is winning the debate. Advisor told her the laywer could steal all the money... watch what you sign and move forward.
Has anyone had any experiance on this and mabe information on the web to chase.

05-13-2007, 03:17 PM	#1
trukdoc Montana Master Join Date: Oct 2004 Location: Sulphur Springs Posts: 748 M.O.C. #2220	Need finance advise. My father in law is in very poor health to the point he is having a feeding tube put in and has been bed ridden for nearly a year. Health insurance to cover him is cost prohibitive and they cannot get assistance due to too much cash in their account. They are not rich by no means, but had enough to live descent on the interest and SS. My mother in law has recieved ADVISE from someone that is in no position to do so. The advise is to divide the money between the three daughters and if it is put in a NON interest bearing account there is no taxes on the transaction and of coarse no interest income on this... WHAT? I suggested a finance laywer and so far the ADVISOR is winning the debate. Advisor told her the laywer could steal all the money... watch what you sign and move forward. Has anyone had any experiance on this and mabe information on the web to chase.