Inheritance from great grandfather (Alabama)
Location: Alabama
My great-grandfather wants to leave his money to my sister and me. We’re the only two people listed on his bank accounts and in his will, and he has a written letter granting us power of attorney if something ever happens to him. I know this letter should probably at least be notarized.
Our concern is that these things won’t be enough to actually protect the inheritance when he passes. We’re also worried about the nursing home / assisted living scenario, where the costs could wipe out his savings before we ever see it. This literally just happened to my grandmother on the other side of the family, so it’s very real for us.
A few things worth noting:
- He sold his home and lives with other family members, so there’s no real estate involved, just cash/savings
- Our family doesn’t have much experience navigating this kind of thing
- We want to make sure we’re doing this right while we still have time
Any advice on what steps we should take, or what we might be missing, would be really appreciated!!