To Add or Not to Add a Child (to Bank Accounts), That is the Question

Neil V. Carbone, a partner in our Trusts & Estates practice, was quoted in The Moneyist column on MarketWatch. The column explores whether parents should add a child to their bank accounts as a co-owner and the risks that may be incurred by doing so.

“An account with one child’s name added solely for convenient access to funds can lead to nasty disputes if that child argues on the parents’ death that he or she was intended to become the sole owner of the account, increasing his or her share of the estate as against the others,” Carbone said.

To read more, see it on MarketWatch here:

‘For the record, I trust him 100%’: Should my husband and I add our son to our bank accounts in case something happens to us? – MarketWatch