Why is it not a good idea for adult children to put their names on their parents’ bank accounts?

It is fairly common for an aging parent to add a child’s name (sometimes more than one child) as a joint owner on the parent’s bank accounts.  The arrangement is usually viewed as a simple and inexpensive solution to the concerns, such as someone needing to be able to pay bills when the parent is ill or hospitalized, funerals are expensive and money will be needed immediately, the account will […]

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