Managing Your Accounts

Is it a good idea to add your children’s names to your bank account and house? Managing accounts properly is a great way to do estate planning.

It is an easy way to pass on the property without going through the probate court or using a trust.
The surviving child automatically owns the property when you pass away.

Is there a downside to doing this?

Yes, you no longer fully own the property.
Your children would have to sign off before you could sell the property in the future.
Creditors of your children may come after the joint property.

For all your estate planning needs, Kallman Legal Group. Our Passion, Your Peace of Mind.