OneEyedDiva
SF VIP
- Location
- New Jersey
Checking and savings at my main bank. He's already a co-owner on my credit union checking and can transfer funds from savings into checking if necessary. The bank rep, Bryan was so nice and efficient. Bryan provided us with all the information and disclaimers he was supposed to. He told me before finalizing the add to be aware that it meant my son could withdraw money at will. I told him if he did so without my permission I would break his neck! I added besides..I know where he lives. My son chimed in saying that at 54 years old he's still afraid of me.
And the laughter began.
I wanted to get this done in case I become very ill, can't transact business for myself and need at home care. My son maintains that he'd never put me in a nursing home. Although my health plan (Aetna PPO) pays for 35 hours a week of at home care for an unlimited time, if I need more obviously that's out of pocket. Also after I pass, it will be easier for him to pay whatever is left to be paid. He also has POA on one of my brokerage accounts and I'm planning to just go ahead and give him POA on the others. Obviously I have tremendous trust in my child. Adding him necessitated us choosing other POD beneficiaries for those accounts.
Bryan seemed to anticipate my questions and answered them before I even asked. One thing I wanted to know was if my son would have his own login so we could both set up two factor identification. I hadn't done it at that bank because sometimes he needed to login for me and may not have had access to my phone. So the answer was yes and his login was set up while we were sitting there. I'm not getting any younger and I felt it was time to get this done. When I told my sister, she said she had already done this with her two children who are also very trustworthy. @Pecos
I wanted to get this done in case I become very ill, can't transact business for myself and need at home care. My son maintains that he'd never put me in a nursing home. Although my health plan (Aetna PPO) pays for 35 hours a week of at home care for an unlimited time, if I need more obviously that's out of pocket. Also after I pass, it will be easier for him to pay whatever is left to be paid. He also has POA on one of my brokerage accounts and I'm planning to just go ahead and give him POA on the others. Obviously I have tremendous trust in my child. Adding him necessitated us choosing other POD beneficiaries for those accounts.
Bryan seemed to anticipate my questions and answered them before I even asked. One thing I wanted to know was if my son would have his own login so we could both set up two factor identification. I hadn't done it at that bank because sometimes he needed to login for me and may not have had access to my phone. So the answer was yes and his login was set up while we were sitting there. I'm not getting any younger and I felt it was time to get this done. When I told my sister, she said she had already done this with her two children who are also very trustworthy. @Pecos