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DEAR BRUCE: My widowed mother remarried several years ago. She recently put her new husband’s name on the deed. This is the home in which they currently live. The will specifies that the house be divided equally between my sister and me upon her death. Now that her husband is on the title, does his son have an interest if my mother dies before her husband?

— Reader, via e-mail

DEAR READER: Depending on how this property was titled, the house may be entirely her husband’s upon your mother’s death. If the house is titled “tenants by the entirety,” this means simply that when one person dies, the other owns the entire property. This is also true with regard to joint tenancy with the right of survivorship.

In any case, your mom cannot leave the house to you and your sister. That’s because your mother now, at very best, only owns half the property and may very well, upon passing, have no equity to share.

If she intends to do as you have described and she is on good terms with her husband, it would be smart to transfer the property back into her name alone. Please see an attorney.

DEAR BRUCE: Does it matter if a bank is small, local or out of town when searching for the highest return on a CD? Since CDs are insured, my money should be safe.

— Reader, via e-mail

DEAR READER: It’s funny how many letters I receive regarding this very question. As long as the Federal Deposit Insurance Corp. (FDIC) insures your CD, there shouldn’t be a problem. I would be leery of investing with institutions that are privately insured. The size and location of the institution is without relevance. The only thing that matters: Stay within the limits established per depositor, which is ordinarily $100,000. You can also title accounts for larger amounts to be FDIC-insured.

DEAR BRUCE: I am currently evaluating the possibility of purchasing a franchise, but I’m in the early stages and would like to know what you would recommend in terms of research.

— Reader, via e-mail

DEAR READER: First of all, you have to understand the reasons that franchises are attractive in many cases. Successful franchises that have been around for a while have a far lower failure rate than brand-new start-ups. There is also the important area of brand identification. When you drive up to, say, a McDonald’s, you know what kind of French fries and hamburgers to expect. When you drive up to Bruce’s Drive-in, you’re not necessarily sure.

The downside is that you will have a partner for life. You are not allowed the individuality that you would have in your standalone enterprise for the obvious reasons. The core of the franchise is uniformity, and if the franchisers allowed your unit to put Swiss cheese on hamburgers, that departure would dilute the value of the franchise.

There are dozens of books available in your library that can provide some insight into franchising. Just be aware of the licensing requirements in your state, and be certain to check credentials of the franchiser very carefully. Substantial amounts of money are required up front from the established franchisers.

Understand that while you have a far better chance of success than a start-up, there is no guarantee of success. Established franchises can go down the toilet.

DEAR BRUCE: My father bought me stock as a custodian when I was a minor. What is the procedure for removing his name from the stock?

— Reader, via e-mail

DEAR READER: Visit your stockbroker. You will need proof of your majority, such as a passport or birth certificate with a seal. They may even accept your driver’s license. With that kind of documentation, they can handle the transaction quickly and without any cost to you.

DEAR BRUCE: My wife signed a quitclaim deed when we bought our home nine years ago. What are the ramifications? If I die, what will her status be with the house?

— M.J.. Florida

DEAR M.J.: Why would she sign a quitclaim when you just bought the home? If you didn’t choose to put her name on it, why not just buy it in your name alone? A quitclaim relinquishes her rights but not her responsibilities, say, to a mortgage. In most states, you cannot simply write your wife out of your estate. She is still entitled to one-third, other agreements notwithstanding, like a prenup. An attorney can far better settle things of this nature before the fact.

You can be certain of one thing: If there is any contention, it will be more costly to straighten this out after the fact. Figure it out while you are both alive — so you and your wife can agree to the disposition of the property. It may well be that a postnuptial agreement is in order. Until such time that the two of you come to some meeting of the minds, and have discussed it with an attorney, neither of you should sleep easy.

Interested in buying or selling a house? Let Bruce Williams’ “House Smart” be your guide. Price: $14.95, plus shipping and handling. Call: (800) 337-2346. Send your questions to: Smart Money, P.O. Box 2095, Elfers, FL 34680. E-mail: bruce@brucewilliams.com