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#802185 - 08/24/07 03:22 PM Beneficiaries on Joint Accounts
cadym Offline
Member
Joined: Aug 2007
Posts: 51
Michigan
When allowing beneficiaries on joint deposit accounts, we require a seperate "transfer on death" form to be completed. Should we require all owners of the joint account to sign this form or will one signature do?

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#802871 - 08/26/07 04:44 AM Re: Beneficiaries on Joint Accounts cadym
BBoyd Offline
Diamond Poster
BBoyd
Joined: Mar 2002
Posts: 2,494
MI
I would require both signatures; it confirms that all owners agree with the naming of the beneficiaries. You don't want a scene when the last account owner dies and the beneficiaries (or those not named who think they should have been) are fighting over the account and "what Mom wanted."
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Opinions are mine and never to be taken as legal advice!

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#806538 - 08/30/07 08:39 PM Re: Beneficiaries on Joint Accounts BBoyd
cadym Offline
Member
Joined: Aug 2007
Posts: 51
Michigan
Thanks for your reply. I was under the same thinking.

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