Do you get the recurring question from clients that I do, from time to time, about bank accounts? I’m referring to the issue where an elderly mother or father wants to add their child’s name to one or more of their bank accounts. In simple terms, the logic makes sense, as most parents want to assure that their bills, mortgages, insurances or even funerals get paid for should something happen to them. Yet most elderly clients and children don’t realize the risk that this small transaction creates. Here are just a few issues they, and you, should consider: Read Andy’s Follow-Up article “Your Clients & Their Children: The Solution To Joint Bank Accounts”
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