Legal

Yes, please see my legal guide by clicking my name and reading my legal guide under Joint Tenancy Property. Your situation is precisely the reason we never recommend joint tenancy. If the funds in the account are 100% from your efforts and other assets you should withdraw the funds and open a new account in your name alone. I assume that you had your daughter on the account as co-owner for your convenience so she could write checks for you; take the assets upon your death without probate, etc. You should contact a good estate planning attorney to set up a Trust to manage your assets in the event of death as it sounds like your daughter may not be capable of managing assets. Best of luck.

LEGAL DISCLAIMER
Mr. Post is licensed to practice law in KS and MO. The response herein is not legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply unsuitable. Mr. Post strongly advises the questioner to confer with an attorney in their state in order to ensure proper advice is received.