Won’t joint accounts take care of passing on my assets?
Unless you have only one child, this is inadvisable because it is impossible to keep separate accounts for more than one child equal. This is especially true if you become incapacitated and no longer have control over the accounts. Trying to save a few dollars by managing your estate in this fashion runs the strong risk of causing discord in your family for generations to come. Why take the chance?
Related Questions
- I own my home and some other assets as joint tenants with rights of survivorship with my spouse. Doesn’t that eliminate the necessity for having a will?
- Are assets held in joint tenant accounts protected from judgements filed against only one of the joint tenants?
- Won’t joint accounts take care of passing on my assets?
