Joint Accounts

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Garnishment in Florida: Serving Writs of Garnishment on Third Party Bank Accounts

In a previous article, we provided an overview of the basic procedures judgment creditors must follow when serving writs of garnishment on banks and the obligations of financial institutions that are served with writs. We...more

Who Do You Trust?— New Ruling Highlights the Need for Care in Deciding How to Open Your Joint Bank Account

Florida law recognizes, and most banks offer, multiple forms of account designation to meet the desires and needs of individual customers. Keep in mind, however, that the standard demand deposit account agreement (whether...more

File bankruptcy having a joint bank account with my mother?

What happens to that joint bank account with your elder relative if you have to file bankruptcy? Let's take a look....more

Documenting a Borrower’s Intent to Apply for Joint Credit under the Equal Credit Opportunity Act

The Equal Credit Opportunity Act (“ECOA”) was signed into law by Congress in 1974. This law makes it unlawful for a creditor to discriminate against an applicant in any aspect of a credit transaction on the basis of, inter...more

Nevada Supreme Court Limits Ability to Execute on Funds Contained in Joint Accounts in Brooksby v. Nevada State Bank

In Brooksby v. Nevada State Bank, 129 Nev. Adv. Op. 82 (Nov. 7, 2013), Nevada State Bank obtained a deficiency judgment against the guarantor of a commercial loan and then garnished funds contained in bank accounts jointly...more

Be Aware of the Dangers of Joint Accounts

Many people believe that joint accounts are a good way to avoid probate and transfer money to loved ones. But while joint accounts can be useful in certain circumstances, they can have dire consequences if not used properly....more

Insight on Estate Planning - October/November 2013: Estate Planning Pitfall: A beneficiary designation or joint title overrides...

Inattention to beneficiary designations and jointly held assets can quickly unravel an estate plan. Many don’t realize that their will doesn’t control the disposition of “nonprobate assets,” such as life insurance policies,...more

Litigating Accounts With Rights of Survivorship in Texas

In this article: - I. Introduction - II. Valid Survivorship Accounts - III. Joint Accounts Between Spouses - IV. Burden Of Proving Enforcable Survivorship Accounts - V. Proving Contents Of...more

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