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Exercise Caution When Opening Joint Bank Accounts

Joint bank accounts are frequently used by spouses for a number of reasons but are typically created so each spouse can write checks from the shared account to take care of living expenses.  Joint accounts are tools of convenience, allowing for example one spouse to rely on the other to take care of the bills.  Most joint accounts between spouses are also set up so the surviving spouse “inherits” the bank account when the other spouse dies, which is usually what they intended. Continue reading “Exercise Caution When Opening Joint Bank Accounts”