Joint Accounts Can Have Unexpected Pitfalls
This Post was Written by:
Douglas L. Kaune, Esquire
dkaune@utbf.com
610-933-8069
Joint bank accounts are often established by individuals with the hope of creating an account with one or more of the following beneifits:
probate avoidance, reduced inheritance taxes or as a convenient way to allow family member to write checks and pay bills.
Unfortunately there are numberous Medicaid/Elder Law Planning, estate planning and asset protection pitfalls that await those who have established joint accounts. Some common problems resulting from joint accounts are pointed out in this Elder Law Answers Article. Take a look at this article and be careful how you title your bank accounts!
This Post was Written by:
Douglas L. Kaune, Esquire
dkaune@utbf.com
610-933-8069
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Written by: David M. Frees III
Chairman: Trust, Estates, and Wealth Preservation
E-mail: dfrees@utbf.com
Phone: 610-933-8069
AVVO Rating: 10.0
Tags: Asset Protection, attorney, doug kaune, douglas kaune, douglas l. kaune, Elder Law, Inheritance tax, Joint Accounts, medicaid, probate
