News & Analysis as of

Joint Accounts

Warner Norcross + Judd

12 Steps for Avoiding Identity Theft After the Death of a Loved One

Recently, I attended the 2024 Summer Meeting for the American College of Trust and Estate Counsel (ACTEC) in Toronto. While there I presented to ACTEC’s Digital Property Committee on ghost hacking. Ghost hacking is when a...more

Fox Rothschild LLP

Life After Love Gone Wrong Podcast: Season 3, Episode 4 - Splitting Costs: Forensic Accounting in Divorce

Fox Rothschild LLP on

Your attorney is your advocate. A forensic accountant is your financial fact-finder. In this episode, Sandra Fava and guest Megan Sartor, a forensic accountant, explore the symbiotic relationship between lawyers and...more

Downey Brand LLP

Hot Water Alert! Agent Should Not Co-Own Account with Principal

Downey Brand LLP on

Financial powers of attorney give the named agent broad control over the principal’s assets and thus are a key component of estate planning. Such powers allow the agent to help if and when the principal becomes incapacitated....more

Rivkin Radler LLP

Joint and Designated Beneficiary Accounts: BEWARE!

Rivkin Radler LLP on

Your friendly neighborhood branch banker suggests that you change all your accounts to either joint with your kids or to name your kids as beneficiaries on all your accounts (a “pay on death” beneficiary designation). ...more

Burns & Levinson LLP

DLM Blog Post – What Not to Do During a Divorce! (2022 Edition) Part II – Financial

Burns & Levinson LLP on

In the second part of this two-part series, you will learn about financial pitfalls to avoid in the divorce process. Experienced divorce counsel can guide you to ensure that financial decisions don’t cost you credibility,...more

Jaburg Wilk

The Dangers of Joint Bank Accounts

Jaburg Wilk on

Adding an adult child as a joint owner of a parent’s bank account seems like a simple and straightforward solution that allows the child to help care for mom or dad without the expense or hassle of preparing powers of...more

Bowditch & Dewey

What’s Love Got to do With It: When Unmarried Couples Live Like Married Couples

Bowditch & Dewey on

The pandemic may be delaying weddings, but people are still moving forward living their lives together – and making some unfortunate financial decisions. Unfortunate because they are not protected by laws that would protect...more

Winstead PC

Presentation: Joint Account Litigation in Texas

Winstead PC on

David F. Johnson, lead writer for the Texas Fiduciary Litigator blog, presented his paper on “Joint Account Litigation in Texas” to the Texas Bankers Association via a webinar on April 29, 2020. This presentation addresses...more

Rosenberg Martin Greenberg LLP

Can I Garnish That Joint Bank Account? That May Depend On What The Term “Judgment” Means

Does a creditor who obtains a judgment against a debtor in Florida and then records that judgment in Maryland have a single judgment that it can enforce in Florida and Maryland or a Florida judgment and a separate Maryland...more

Chambliss, Bahner & Stophel, P.C.

Bank Pays Price for Refusing to Honor Request Made Under a Power of Attorney

A durable power of attorney (POA) allows the person creating the POA, called the "principal," to name a trusted agent who can act on his behalf in almost any situation. But because of the risk of abuse, many banks will...more

Downey Brand LLP

California Courts May Invalidate Right of Survivorship in Joint Accounts

Downey Brand LLP on

Often an aging parent will add an adult child to the parent’s account as a joint holder to assist with asset management or bill payment. However, this may lead to an unintended result in California when the parent dies. The...more

Chambliss, Bahner & Stophel, P.C.

Three Reasons Why Joint Accounts May Be a Poor Estate Plan

Many people, especially seniors, see joint ownership as an easy way to avoid probate and plan for incapacity, but there are major drawbacks to joint accounts. When people own property as joint tenants each person has an...more

Farrell Fritz, P.C.

Joint Accounts – Who Gets the Account Upon Your Death?

Farrell Fritz, P.C. on

An account that is titled in your name and that of your child “with right of survivorship” passes to your child upon your death “by operation of law.” That is, your Will does not control the disposition of this account. When...more

Winstead PC

Court Affirms Judgment That Power-Of-Attorney Holder Converted Funds By Withdrawing Them From A Joint Account

Winstead PC on

In Fletcher v. Whitaker, a brother withdrew $25,000 from a joint bank account while the owner of the funds (decedent) was still alive. No. 02-17-00138-CV, 2018 Tex. App. LEXIS 8329 (Tex. App.—Fort Worth October 11, 2018, no...more

Winstead PC

[Webinar] Joint Account Litigation In Texas With An Emphasis On Fiduciary Relationships - May 22nd, 10:00am CT

Winstead PC on

This presentation will cover the creation of joint accounts, the ownership of funds in these accounts, Texas Estate’s Code provisions and Texas common law regarding the requirements for effective survivorship language,...more

Goodwin

Financial Services Weekly News - August 2017 #3

Goodwin on

Editor's Note - In This Issue. The Department of Labor (DOL) filed a Notice of Administrative Action seeking to delay the Fiduciary Rule until July 2019; federal banking agencies issued guidance on the capital treatment of...more

Farrell Fritz, P.C.

Joint Accounts: Who Gets the Account Upon Your Death?

Farrell Fritz, P.C. on

An account that is titled in your name and that of your child “with right of survivorship” passes to your child upon your death “by operation of law.” That is, your Will does not control the disposition of this account. When...more

Clark Hill PLC

A Guide for Challenging a Joint Account Arrangement in Michigan

Clark Hill PLC on

Joint bank account arrangements are as useful as they are common, providing a simple means for transferring an individual's assets to others - either during his/her life or post death by operation of a survivorship...more

Butler Snow LLP

Post-Petition Transfers: Sixth Circuit Opines on 11 U.S.C. § 542 versus § 549

Butler Snow LLP on

The United States Bankruptcy Appellate Panel of the Sixth Circuit recently clarified whether a trustee could rely upon 11 U.S.C. § 542, and in the process side-step 11 U.S.C. § 549, to recover an unauthorized post-petition...more

JAMS

Recent Changes in Testamentary Capacity Rules

JAMS on

Estate planners and litigators face new challenges in light of recent developments in case law and statutory changes affecting the law of testamentary capacity. Gone are the simple rules that estate planners have used for...more

Snell & Wilmer

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

Snell & Wilmer on

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

Chambliss, Bahner & Stophel, P.C.

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

Adler Pollock & Sheehan P.C.

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

Winstead PC

Litigating Accounts With Rights of Survivorship in Texas

Winstead PC on

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

24 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide