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What else can I help you with?
Is it illegal to remove your spouse from joint checking account?
No. it is not mandatory to have a joint account with your spouse. If you feel, you no longer wish to have your spouse in your joint account, you can let them know and then contact the bank to remove their name from the accounts joint holders list.
How old does my son have to be before opening a checking account?
It depends on the bank. Some banks may give checking accounts to people as young as 16. However most have tighter restrictions. Generally, banks will not allow a person to open their own checking account until they are 18, but many banks allow you to open a joint account that you share with your child. You both have access to this account and checks to either of you can be deposited in it. If you do your banking online, most banks also make it easy for you to wach your child's spending on a joint account. The minimum age for joint accounts is usually 14 years.
Do both parties have to sign checks drawn on a joint personal checking account?
Typically no. A regular joint checking account just allows two people to have access. Either person can write checks, use a debit card, withdraw money, etc.
Can I add another person to my checking account?
Yes, a member can add anyone, age 18 or older, as a joint owner to his/her account. As long as the joint individual is eligible for a checking account through the credit union or bank. This person has total access to do transactions on only the specific account they are joint on.
What happens to a joint account when the primary divorces the secondary member of the account?
All accounts of every nature should be addressed in the Separation Agreement and the Divorce Decree. The joint credit card accounts and any joint bank or investment accounts must be negotiated by the parties (through their attorneys) as to who pays what and who gets what. Property, debts and assets must all be addressed at the time of the divorce.
Can joint checking accounts be frozen for a husband's credit card debt?
Yes. The only exception is if the married couple live in a state that allows joint marital accounts to be held as Tenancy By The Entirety (TBE).
Is it illegal to remove your spouse from joint checking account?
No. it is not mandatory to have a joint account with your spouse. If you feel, you no longer wish to have your spouse in your joint account, you can let them know and then contact the bank to remove their name from the accounts joint holders list.
How old does my son have to be before opening a checking account?
It depends on the bank. Some banks may give checking accounts to people as young as 16. However most have tighter restrictions. Generally, banks will not allow a person to open their own checking account until they are 18, but many banks allow you to open a joint account that you share with your child. You both have access to this account and checks to either of you can be deposited in it. If you do your banking online, most banks also make it easy for you to wach your child's spending on a joint account. The minimum age for joint accounts is usually 14 years.
Can joint checking accounts held by persons who are not married be garnished?
Yes. A joint account held by persons who are not married nor related can be levied by a judgment creditor to the extent of the funds in the account that belong to the debtor.
Can my POA agent open a joint checking account in your name with himself as a joint owner without your signature?
In Missouri, the POA can not add himself as a joint signer to any accounts in the name of the person he is POA for. POA can not add himself as a beneficiary to any accounts. The POA is acting as an agent for the person he is representing and should only act for their best interest.
Do both parties have to sign checks drawn on a joint personal checking account?
Typically no. A regular joint checking account just allows two people to have access. Either person can write checks, use a debit card, withdraw money, etc.
What credit do both persons need for a joint checking account?
Most Financial institutions open checking accounts through a credit bureau call Chex Systems, if your are not in their files for anything negative you will most likely be able to open an account.
Can a person who is not appointed executor but his attorney tells him to close out accounts?
He can if the accounts are joint accounts and he is the joint account owner. However, if he was the joint owner for convenience purposes only the other heirs should seek their share of the funds.
What allows the husband and wife to deposit and withdraw money from the same place?
Joint accounts. A joint account has both peoples' names on it so either of them can withdraw from it. Also there's no saying they couldn't have separate accounts and still be able to deposit and withdraw from the same bank. Just not from the same account.
If you have about 50000 in credit card debt and have some joint accounts with your boyfriend is he liable?
Yes, but only on the ones that your boyfriend is on (joint credit accounts only).
Does it eliminate estate and probate when heirs are on all accounts as joint owners of deceased?
If the only assets owned by the decedent were joint accounts then those accounts would be owned by the surviving joint owner. Real property, if not held in a joint ownership with right of survivorship, would need to be probated to vest title in the heirs.
If your checking account is a joint account with your spouse and it has a negative balance and you file chapter seven what happens to your spouse?
She needs to get a checking account in her own name, which means that you both will need to put money into the joint account until it is at least a zero. If you stiff the bank, then it will not be possible for either of you to get a checking account anywhere until you pay the amount owed. As they say, "you don't want to go there."
