Legal Question in Banking Law in Pennsylvania

Regardng the basic bank accounts, if you are a joint account holder, why can't you take the money out? How much money is in the account? Just withdraw the funds, open a new account and deposit it there.

I don't understand why you would be penalized at all on regular bank accounts. On the invevstment accounts, are some off these IRAs/401(k)s that have not been taxed? Are you over or under age 59 1/2? If you are under 59 1/2, you need to do a trustee to trustee rollover. If you are over 59 1/2, you will not be penalized, but you will be taxed on funds if no tax has been paid. Again, do a trustee-to trustee rollover.

If this is a brokerage account rather than a straight bank account, I don't see why you cannot open a brokerage account with broker B and direct broker A to transfer the funds into the account with broker B.

Personally, I don't know why you listed your son on the account. This should not have been done. You could have executed a power of attorney or revocable living trust which would have allowed him to handle your affairs if you were unable to do so. If problems arose, you could then have changed the trustee or agent without having to go through this.