Question

Your client Mrs. Stephens is a widow in her mid-70s. Her only son Brent is 40 and lives with her. She would like Brent to be able to manage her account for her but not have access to withdraw funds from her account. However, when she dies she would like all of her account to go to Brent because he is her only living relative. What type of account and what features should she set up?

Answer 1

She could set up a checking or savings account with him as the beneficiary.

Step-by-step explanation:

He would not have the ability to withdraw funds while she is alive but would be entitled to all if the funds when she passes away