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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Family Law
Satisfied Customers: 118200
Experience:  Experienced attorney: Family law, Estate Law, SS Law etc.
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I am a 42 year old woman who owns a coop. My mother is also

Customer Question

Hello, I am a 42 year old woman who owns a coop. My mother is also on the deed. I would like to have the coop on my name. How do I do that? Also I would like protection of my assets from my brother if God forbid something happens to my mother I will directly
get the coop and half of the estate and not my brother. My mother is willing to sign a note giving the coop to me if God forbid something happens to me. I would get it notarized but my friends say I need a lawyer too and not only to get it notarized.
Submitted: 1 year ago.
Category: Family Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Your mother can do this two ways. First, she can transfer the shares/deed to the coop to you now through quit claim deed. You need to get an attorney to do that, but they can simply write up a deed for her to sign and be notarized and then file it with the recorder of deeds, which makes you the owner of the property. Second, she can write a will, again with an attorney, to specify what you get when she dies.
As far as her other assets, she can name you as beneficiary now on any accounts she has, which would mean anything left in those accounts when she dies would go to you without probate.
Alternatively, she could do a will that specifies what you would get and what your brother will get.
Those are the ways to protect yourself in the situation you describe.
Customer: replied 1 year ago.
Ok, thank you for your response I am still confused about the beneficiary of accounts because because I think she has an account with my brother which I do not so it is more complicated than what it seems. From the implication of your response the best day to be secure is to get an attorney.
Customer: replied 1 year ago.
I do not want my brother to be the beneficiary for my assets in the coop
Customer: replied 1 year ago.
I meant best way to be secure
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your reply.
If your mother has beneficiary bank accounts with your brother as beneficiary, then when she dies she gets those. As far as the coop, the best way to do that is with the quit claim deed, then he cannot get any of your coop.