OF JOINT ACCOUNTS"
Many people believe that joint
accounts are a good way to avoid probate and transfer money to
loved ones. In fact, such accounts are sometimes referred to
as "the common person's estate plan." But while joint
accounts can be useful in certain circumstances, they can have
dire, unintended consequences if not used properly. Adding a
loved one to a bank account can affect Medicaid planning as well
as expose your account to the loved one's creditors.
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