Rebecca Rosenberger Smolen, left, and Amy Neifeld Shkedy, right, of Bala Law Group.
Rather than dedicate our efforts this month to informing our readers about one specific set of issues arising in the trusts and estates practice, we thought it would be helpful to instead focus on the mistakes we regularly see, which, with a little care and effort, can be avoided for the peace of mind of the client, and the financial benefit of the objects of the client’s bounty:
Joint Accounts. We often learn, after a client’s death, that the client had been persuaded, by a friend, family member, or bank teller, to add a child’s name to a bank account (or even an investment account or real estate) in order to make things easier to access the client’s funds after death, for the purpose of paying funeral and other bills, and distributing funds to heirs. As a general matter, we advise against this practice because it muddies the water about the client’s intentions for those funds.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
