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#2272606 - 07/11/22 12:09 PM Conservatorship on Joint Account
SmallBankBSA Offline
100 Club
Joined: May 2018
Posts: 171
BOL, need your assistance.

Joint account with a 100 year old mom and her 70 year old son. Grandaughter has conservatorship over the grandmother and would like to be added as such to the joint account. In my opinion it would be cleaner to open a new account with just the grandmother and the would you proceed? I can't find anything that tells me a separate account must be opened but I'm unsure how to deal with the joint owner...who btw is incapacitated as well but there is no conservatorship over him.

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#2272613 - 07/11/22 02:05 PM Re: Conservatorship on Joint Account SmallBankBSA
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,684
Cape Cod
Having just one owner and the conservator is definitely the preferable route. But you need to figure out what's going on with the joint account. Can you tell who the funds belong to, or are there clearly two separate sources and both account owners are receiving funds (such as SSA payments to both of them)? Who is handling transactions for the younger of the owners?
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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