858.792.5988

Serving San Diego for over 35 Years

Clients, Colleagues, and Friends,

I retired on Dec. 31, 2019, and officially closed my office, after 42 years of practicing law. I thank you all for your confidence in me and your friendship over the years. My colleague David Dufek who has shared the suite with me for the past two years is taking over my practice and will have all client files. Not only will David be taking over the practice, he remains in the suite and is taking over my fax and phone lines. You are free to leave your files with David or pick them up. David's practice like mine includes will, trusts, and probate, as well as personal injury work. He also does landlord - tenant work and debtor - creditor matters including bankruptcy.

I wish you all the best.

Alex

What Does a Join Account Really Mean?

If two or more people wish to combine their finances and share access to a single account, they can open a joint account. Business partners, parents and children, married couples or cohabiting couples will often choose joint accounts. The joint account with rights of survivorship is the most common type, and allows assets to pass to the surviving party in case of the death of one party. Both joint accounts holders are equally responsible for bounced checks or overdrafts. In most states, turning a pre-marital bank account into a joint account places it under marital assets.

Before Opening a Joint Account

Opening a joint bank account means entrusting another person with your finances, but can make handling finances simpler. Should you have any doubts regarding the future of your relationship, bank accounts should probably be kept separate. You should also be sure the person you are considering opening a joint account with has a solid credit history. If they owe large amounts of money on loans or other debt it could be wise to keep your accounts separate. Both parties in a joint account are held equally liable for any debt. Should you enter into a joint account with another person, it should be with the understanding that they will always have the right to use the money in the account. Joint accounts should be limited to people whom you consider completely trustworthy.

Additional Help & Resources on Joint Accounts

If you have questions regarding the legal issues involved in a joint account, you should call San Diego probate attorney Alex Scheingross at 858-792-5988 or consult an experienced lawyer in your area.