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Not sure what topic to put this under. I am not her POA legally, but the banker said since she added me on her account, I can write checks, etc.

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This depends on the terms and conditions of the bank account.

Joint accounts with right of survivorship (aka "POD," pay on death provision) pass to the joint owner upon death. This is probably the most common form of joint account, and the one usually used by married couples.

BUT there are such things as joint accounts where the account owners are not equal (one is junior, the other senior) and without POD provision. These would become part of the estate and would be locked at the time of death, and remain so until the asset has gone through probate.

So, assuming your name is on the account, you might want to talk to the bank. Or to your mom if you wish to change them, should these not be as you wish (for whatever reason).
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Lost313 Apr 2022
This is the correct answer. Call your bank and see if you have POD. When my grandfather and I set up his bank account the bank automatically did this because I was his POA and Executor, they didn’t want me to be dealing with a locked bank account with final expenses and bill payments. There’s a series of YouTube videos about this that breaks down different scenarios that could happen when your LO passes
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If she added you as a joint owner, then the account is just like it’s yours.
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You have a joint account with your mother. That means you can write checks. Definitely you and your mom should have a POA and a Will done with a lawyer. It usually costs a few hundred dollars but worth every penny.
When your mother passes on, all you will have to do is bring a copy of her death certificate to the bank and have her name removed from the account. It's that simple.
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When she dies the money belongs to you. If there are other siblings who should get part of the account, then you should give them their share, but legally, the account would belong only to you.

I was on my parents's account for years, but I never wrote checks on it until I took over their finances for them. Know that that money belongs to your mother, and she is trusting you not to abuse your position as a co-signer on the account. That money is to be used for her expenses and care, not yours.
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The question should be what happens if either of you die first... are involved in bankruptcy, lawsuits, liens, etc. Your bank should be able to tell you exactly what will happen because they deal with the fallout of problems all the time. There are so many variations of how to put names on accounts that affect how it is handled. An estate lawyer can best advise you when more than one name is added on an account. In other words, even though you understand the money is for your mother.... anyone trying to settle a case with you may be able to take her money as well. So bottom line is be sure of the rights and possible pitfalls when more than one name is on an account. What everyone is saying here is basically true... but based only on what their experience has been with the way their account was created. Find out how the law will affect the specific way your name has been added. A good estate lawyer can also verify all of your documents are worded in the way your mom intends and it is better to find out now rather than deal with the potential pitfalls that can happen after or even before her death (or yours)!
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Littlesistercg Apr 2022
This! Had a friend who was applying for a loan and because her Mom had put her on an account, they wanted Mom to do a credit check as well. Talk to a lawyer.
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Folks,
Another warning here. Don't take the advice of people on a Forum, of people who are comingling their names on accounts or relying on online banking.
Please see an elder law attorney to do POA papers, and submit the POA when the elder is no longer competent to act on account.
And please know that if there is a Trust you need BOTH POA and Trustee of Trust to manage said accounts. You will need perfect records. There are thousands of things that can go WRONG with having accounts with your name on it. The elder can say "You stole my money". The IRS can come calling and saying "Whose money is this and why is your name on the account". Medicaid can say "This elder has a lot of money, but whose is it". Just a ton of questions.
The RIGHT WAY if you want to manage the bill paying and finances of your elder is to get documents WHILE THEY ARE COMPETENT to manage their Trusts as successor trustee and their accounts as POA WHEN they are NOT competent.
See an attorney. Remember, this is a Forum and it is clear from this thread that everyone is doing just about anything and everything that can be imagined. Which will cause problems. Medical advice needed? See an MD. Financial Advice needed? See a bank, an accountant, an attorney. Legal advice needed? See an attorney.
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graygrammie Apr 2022
The things my father has done were at the direction of his lawyer (which was in complete oppostion of what was drawn up by the lawyer he'd used ten years earlier). Hopefully the new lawyer is giving dad right direction.
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Myworld, I also was listed on my Dad's account so I could write checks for him. The checks read John Smith OR Jane Doe [of course, real names were used]. I could not co-mingle my money with his.

When Dad passed, his estate went into Probate, and since I was the Ex of Dad's Will, I needed to change that bank account to read Estate of John Smith, so I could continue to write checks for bills coming in.

Once probate was finished, then any money left in that account would go to whomever was named in his Will.
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When my Dad passed away a few months ago I got a lawyer to make sure all my Moms affairs were in order. The first thing the lawyer told me to do was to have my Mom put me on her bank account to keep it put of probate upon her passing. This will allow me to pay for her crew action etc. once her debts are payed the rest will be divided as the will states.
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One thing they don’t tell you when you’re added on to someone’s account like that, is you are also liable for that account.

If it’s overdrawn or the actual POA comes in and removes all the money, checks bounce etc.

Maybe both of you are banking at the same bank, they can recover funds from your personal account

A Trust would protect you from that, I found out the hard way.
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There are a variety of answers here. Best piece of advice, talk to the bank and find out exactly what the account represents for you. Then ask an estate lawyer how to proceed. Good luck and best wishes!
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AlvaDeer Apr 2022
I so agree. the Bank will have answers.
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