bank accounts
Can a person have mutipal joint bank accounts ,one with each one of her children with each child being the princible person on the account ?
Asked on 7/13/07, 8:24 am
1 Answer from Attorneys
Rochelle Guznack
Law Offices of Rochelle E. Guznack, PLLC
Re: bank accounts
Generally, having a joint bank account means both people or all people named on the account are principals. That means all have equal rights and responsibilities with respect to the account. There are some exceptions.
There are other ways to set up an account so that you are not a joint owner if that is your wish. You should seek the advice of an estate planning attorney.
Answered on 7/13/07, 11:47 am
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