Harrison Township, NJ Estate Planning Law Firms & Lawyers

Yes !  the banks may have an issue with this - but be insistent.  I do it all the time for my clients.  as the Executor you will still need to sign tax returns, contracts, etc. but the more administrative tasks, such as going to the bank, can be done by someone else via your POA.  The bank will most likely not let you pull all of the money out of the account until you either pay estate/inheritance taxes, or prove no taxes are due by obtaining a waiver. 

Thank you for reaching out.  We can only practice within North Carolina and can not provide answers for out of state inquires.  Sincerely,  Kurtz & Blum

You should definitely speak to someone about this transaction.  By putting the house in your name, you might be able to do some Medicaid planning, provided that your in-laws live in the house with you for at least two years prior to them needing Medicaid.  there is a section of the federal law that would allow for the house to be exempted, but it is a bit too complicated to explain here.  If you are in monmouth or Ocean counties, call my office.  Thoerwise,  look for someone who is a Certified Elder Law Attorney (CELA) who can explain the real estate, taxation, and Medicaid sides to this transaction.