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.
Contact us today for a free consultation here or at (517) 322-3207.