bank accounts

Soon2BeMrs2006 Posted: Aug 02, 2006 07:45 PM

bank accounts

anyone have your parents on your accts. for in case something happens to you, the money would go to them instead of the state.

If so what did you do just go to bank and add them?

eden Posted: Aug 02, 2006 08:13 PM

Re: bank accounts

i think putting this in a will is the best bet. we all need a will, and most of us don't have one.

it's not just your bank money but your other assets that will go to the state unless your parents contest it,

my grandma past away a few years ago w/o a will and we had to go through alot of trouble to declare ourselves her sole heirs. We had to do this so we can get the fund she had in her account to properly give her a burial. :(

I also know some banks won't allow you to add or subtract someone w/o opening a whole new account.

moonlitee Posted: Aug 02, 2006 10:03 PM

Re: bank accounts

I was able to add my mom on the account. Also, if you have someone listed as the beneficiary of the account then they will automatically get the money even if there is no will. Just went through this with my friend when her mom passed.

kara10152006 Posted: Aug 02, 2006 10:38 PM

Re: bank accounts

This is going to sound kind of morbid but, I put my mom on as beneficiary so that way she has no acess to my account unless I die. If something fatal happens to me she just has to go to the bank with her id and my death certificate (with a raised seal) and she can close the accounts. Depending on the bank you will probably need the name and dob (sometimes the ssn) of the person you want to make beneficiary.

tomsgirl07 Posted: Aug 02, 2006 10:48 PM

Re: bank accounts

You can add another person to your checking account as a joint account holder or as a beneficiary at any time. All you need to do is bring photo ID and she'll need to sign some paperwork if she's going to be a joint account holder. If you make her a beneficiary, she won't have any authority over your account or be able to access the money unless you die. But if you have a will, that will supercede any names on the accounts. Hope this helps- I work for a bank so let me know if you have any questions.