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Posted by PeterL on September 7, 2008, 5:32 pm
wrote:
> My mom just closed on her condo. She already has investments that she
> has (unfortunately) been selling for living expenses. Because of a
> generous unlimited LTC policy, the cost of living in her ALF is modest.
> The investment sales will cease and the proceeds of the condo sale will
> remain mostly as cash, serving as a stable source to supplement her
> social security income. I'll set up a routine scheduled transfer from
> the savings to checking.
>
> I was going to open an account at EmigrantDirect but need to have 3
> owners: my mom, myself, and my brother. That's how we titled the
> checking account that will serve as the funding account. EmigrantDirect
> permits only 2 owners, as does INGDirect. Does anyone know of a similar
> online savings bank that permits 3 owners? I'm looking for simplicity,
> and online management is a requirement.
>
> Yes, I'll take some of the excess cash and build CD ladders, etc. I'm
> not looking for investment advice, just a referral to a financial
> institution that fits the need I describe.
>
> Thanks in advance.
> --
> Chris Cowles
> Gainesville, FL
>
That's the purpose of having three owners on the account? Or even two
owners? How about having just your mother as owner and having one or
both of you and your brother as joint trustees?
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