Clifton Mustang
Junior Member
What is the name of your state (only U.S. law)? Maryland
My wife's mother recently passed away. She was listed on nearly all of my father in law bank accounts, treasury bills, etc. My father in law wants to be sure that there are two people listed on the accounts going forward. He wants to add my wife's brother on all of the accounts. He says that he will then state in his will that those funds be distributed equally between both my wife and her brother. My quesitons are:
1) Is there a benefit to having 2 people on every account?
2) Will my father in law be able to split the funds in those accounts between his children, even if he has listed his son as a co-owner of the accounts?
Thanks
My wife's mother recently passed away. She was listed on nearly all of my father in law bank accounts, treasury bills, etc. My father in law wants to be sure that there are two people listed on the accounts going forward. He wants to add my wife's brother on all of the accounts. He says that he will then state in his will that those funds be distributed equally between both my wife and her brother. My quesitons are:
1) Is there a benefit to having 2 people on every account?
2) Will my father in law be able to split the funds in those accounts between his children, even if he has listed his son as a co-owner of the accounts?
Thanks