Estate Planning and Bank Accounts
A question that comes up frequently with Estate Planning clients is: “What should I do with my bank accounts when I have an Estate Plan?” Many times, due to a lack of understanding, they are not set up correctly. This article will discuss what people typically do, the pros and cons of each option.
The other thing we see people doing is adding somebody as a signer to their bank account. Depending on what your goals are, this is ok, but there is often a better way to do this through a Power of Attorney over Financial Decisions. This is because, typically, if you’re going to give someone signing authority on your account, it is because you need them to be able to access your finances in the event of an emergency and to pay your bills.
Each situation calls for a unique solution. If you would like to talk more about this topic, give us a call at (702)850-7998, or click here to schedule a complimentary, 15-minute phone consultation with one of our attorneys.