{"id":944,"date":"2021-04-01T05:50:00","date_gmt":"2021-04-01T09:50:00","guid":{"rendered":"https:\/\/actec.matrixdev.net\/?post_type=video&p=944"},"modified":"2023-11-13T18:52:35","modified_gmt":"2023-11-13T23:52:35","slug":"should-your-adult-child-be-a-co-signer-on-your-bank-account","status":"publish","type":"video","link":"https:\/\/actec.matrixdev.net\/resource-center\/video\/should-your-adult-child-be-a-co-signer-on-your-bank-account\/","title":{"rendered":"Should your Adult Child be a Co-Signer on your Bank Account?"},"content":{"rendered":"\n
\n
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Cosigners on a bank account are individuals who share joint ownership and responsibility for the account. They have equal access to the funds and can conduct transactions, but they also share liability for any debts or overdrafts associated with the account. <\/p>\n\n\n\n

ACTEC Fellows\u00a0Crystal W. Edwards<\/a>\u00a0and\u00a0Letha S. McDowell<\/a>, estate planning experts, explain why you should not have an adult child as a co-signer on a bank account, what the liability is and the difference between a co-signer and a beneficiary.<\/p>\n<\/div>\n\n\n\n

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\n
\"\"<\/a>
Crystal W. Edwards<\/figcaption><\/figure>\n<\/div>\n\n\n\n
\n
\"\"<\/a>
Letha S. McDowell<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Estate planning experts explain why it is a bad idea to have an adult child as a co-signer on a bank 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