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Adding Adult Child to Account Proves Costly

Adding Adult Child to Account Proves Costly
By Craig Watson, Texoma LIVING WELL Magazine
When Gail reached age 75, she took her children’s advice and put their names on her checking account so they could pay her bills in case anything ever happened to her. Her children were happily married to sweet spouses that Gail trusted. The teller at the bank was very helpful and Gail followed the teller’s suggestion regarding how to put her children’s names on her account. Gail had about $3,000 in her checking account, which represented all of her life savings. […]