What is the name of your state (only U.S. law)? Arizona
I am in NY but the person involved is in Arizona. Here is a summary of the situation. Family member (81 years old) was injured in a car accident (not their fault).Person was awarded a large settlement (6 figures). Recipient wants to open an account with their name on it and mine.(basically a joint account). This person doesnt want me to lose any of the money to a nuring home if they someday end up having to go into one. Is there a special way to word the account so nuring home cant touch the money? (like using the words "and" vs "or"? I would think if its set up as "and" then they cant touch it. But if it says "or" then they can. Any advice?
I am in NY but the person involved is in Arizona. Here is a summary of the situation. Family member (81 years old) was injured in a car accident (not their fault).Person was awarded a large settlement (6 figures). Recipient wants to open an account with their name on it and mine.(basically a joint account). This person doesnt want me to lose any of the money to a nuring home if they someday end up having to go into one. Is there a special way to word the account so nuring home cant touch the money? (like using the words "and" vs "or"? I would think if its set up as "and" then they cant touch it. But if it says "or" then they can. Any advice?
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