• Facebook
  • Instagram
  • X.com
  • Pinterest
  • Home
  • Advertise
    • Advertising Info
    • Print Ad Specs
  • Top Docs
  • Top Lawyers
  • Magazines
  • Contact Us
News Ticker
  • [ February 11, 2019 ] Sleep Apnea and the Torture of the CPAP Articles
  • [ October 15, 2025 ] Why Am I Burping? Articles
  • [ October 6, 2025 ] Choosing the Right Attorney Articles
  • [ October 1, 2025 ] Your Ears Protect Your Brain Articles
  • [ September 26, 2025 ] Are All People With Blue Eyes Crazy? What determines your eye color and what it says about you. Articles
  • [ September 19, 2025 ] The Dopamine Menu: Boost Your Mood and Motivation Articles
HomeArticlesIt's time to review your signature card at the bank – Vision Bank, LIVING WELL Magazine

It's time to review your signature card at the bank – Vision Bank, LIVING WELL Magazine

April 9, 2012 LIVING WELL Magazine Articles, Bank, Finance & Planning, Local Editions, Texas, Texoma Area Comments Off on It's time to review your signature card at the bank – Vision Bank, LIVING WELL Magazine

IT’S TIME TO REVIEW YOUR SIGNATURE CARD –

(AT YOUR BANK OR BROKERAGE COMPANY)

By M. Keywood Deese, Vision Bank, Texoma LIVING WELL Magazine

Most people do not remember the actual details of the account forms they signed when they opened a bank or brokerage account. Below is a list of terms that control who has access to the funds during your life or would receive the account at your death.

1. Joint Ownership with the Right of Survivorship: Usually used when a husband and wife open an account. At the first one’s death, the survivor owns the account. This designation can be used between any two people. It exposes each owner to the debts of the other owner.

2. Single or Joint Ownership Account with a signer designated: The signer can sign checks, but is not an owner whose debts could expose the account to liability. The signer has no right to the account balance at the owner’s death. Elderly people often list a grown child to write checks for them.

3. Single Ownership Account with a “Pay Upon Death” instructions. The “POD” designation allows the bank to pay the balance of the account after the owner’s death – to the person designated on the “Pay On Death” form. That person does not have the right to write checks or have partial ownership of the account. That person only receives the money in the account after the owner’s death.

Each bank or brokerage firm has different ways to handle these issues, but the choices are basically the same:

  1.  Do you want a joint owner designation whereby the other owner owns ½ of the account and can write checks    immediately?
  2.  Do you want someone else to just have the right to write checks on your behalf, but not own any of the account?
  3.  Do you want someone to receive the balance in the account at your death and use the POD designation? You can list two people – like your son and daughter – to be the POD recipients and share the balance equally.

In conclusion, if you have not checked the status of your “Signature Card” at the bank for many years, you might want to check it.

M. Keywood Deese is senior vice President & trust Officer at Vision Bank of Ada, OK.

 

  • access to funds
  • Bank
  • Banks in Texas
  • brokerage account
  • M. Keywood Deese
  • marketing to seniors
  • signature card
  • texas bank
  • texoma living well magazine
  • Vision Bank
  • vision bank of ada
Previous

Get active, get healthy – Humana, LIVING WELL Magazine

Next

10 Myths about Hospice – The Denver Hospice, LIVING WELL Magazine

Related Articles

No Picture
Articles

Do I Need a Living Trust? –– Landmark Bank

December 25, 2012 LIVING WELL Magazine Articles, Bank, Finance & Planning, Local Editions, Texas, Texoma Area Comments Off on Do I Need a Living Trust? –– Landmark Bank

Do I Need a Living Trust?
By Katie D. Whitman, JD, Landmark Bank, Texoma LIVING WELL Magazine

You’ve probably thought about what will happen to your loved ones when you pass away, but have you really thought about the details of how your money will be distributed? What about your house, your car, or your favorite antique dresser? Do you worry that one of your children won’t be able to handle an inheritance? […]

No Picture
Articles

Orthotic and Prosthetic Specialists: Amputation is not the end of life as you know it – LIVING WELL Magazine

June 24, 2011 LIVING WELL Magazine Articles, Local Editions, Medical & Dental Comments Off on Orthotic and Prosthetic Specialists: Amputation is not the end of life as you know it – LIVING WELL Magazine

Amputation is not the end of life as you know it
What to expect when being fitted for a prosthesis
Leslie Roberts, CP, MSS, Orthotic and Prosthetic Specialists, Northshore LIVING WELL Magazine (formerly SENIOR Magazine)
Becoming an amputee is a life-changing event. In addition to dealing with natural grieving issues, there is also the task of learning what to expect. The following are a few questions and answers to help transition you into your life as an amputee. […]

Articles

4 Reasons to Own Equities Now––Hodges Capital

November 18, 2013 LIVING WELL Magazine Articles, Finance, Finance & Planning, Local Editions, North Dallas, Texas Comments Off on 4 Reasons to Own Equities Now––Hodges Capital

As of March 8, 2013, the S&P 500 is expected to earn about $110 over the next 12 months. With the S&P 500 trading around 1500, the index trades at a multiple of about 13.5 times earnings. If we take the inverse of this we get about a 7.5% earning yield. Where else can you bet that type of return? Ten year treasury notes yield about 2%, corporate bonds yield about 3.25%. We believe your clients should be overweight equities until we see the discrepancy between the two asset classes shrink. […]

CURRENT & PAST ISSUES

Follow on Facebook


Search our Site
Recent posts
  • Why Am I Burping?
  • Choosing the Right Attorney
  • Your Ears Protect Your Brain
  • Are All People With Blue Eyes Crazy? What determines your eye color and what it says about you.
  • The Dopamine Menu: Boost Your Mood and Motivation
  • Charles Toulson, MD, MBA: Founder of the SURRE Knee–A New Era in Knee Replacement
  • Alicia Keys: Rewriting the Rules
  • Gathering Around the Table: A Place Once Set for Us
Contact Us

Home Office: Living Well Magazine
Houstons of Dallas Publishing, Inc.
102 E. Broadway, #901
Prosper, TX  75078
Phone: 214-507-1000

  • Home
  • Advertise
    • Advertising Info
    • Print Ad Specs
  • Top Docs
  • Top Lawyers
  • Magazines
  • Contact Us

Copyright © 2025 | MH Magazine WordPress Theme by MH Themes