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