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gift to grandchild; transfer of stock to grandchild

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A

apfny

Guest
This issue involves laws in California:
her is the situation.
My mother in law and brother in law are owners of a savings account and some stock. Both are held as joint tenancy. My brother in law has irrevocable POA. My mother in law now wishes to transfer the stock to her grandchildren. I believe that the promary social security # is my mother-in-laws. She has asked that my brother in law do this . Is this possible and what is the law that governs this action ?
 


ALawyer

Senior Member
I have never heard of an irrevocable power of attorney, at least in personal situations.

Just get them to transfer the account or assets to the person who they want to give it to.

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A

apfny

Guest
Thank you for your prompt reply. I misunderstood the POA. I have heard that there is a number of years that assests must be transferred by the owner (the grandmother). If the owner dies before this number of years, there are all sorts of porblems. Can you clarify this rule?
 

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