Here’s an idea that sounds better than it is: Put childrens’ names on the parent’s bank account. That way, children can sign checks if parents can’t pay bills when they become ill. When the parents pass, the money goes directly to the children with no court involved. Simple.
Simple does not mean good, however. Joint bank accounts are owned equally by all who are named on the account. All can...Read More
Senior adults can be more susceptible to identity theft than others. Identity theft is a crime that is on the rise. It involves a criminal stealing personal identifying information to create a new identity or to steal money from the victim. Senior adults are targeted for a few reasons. One reason is that they often have more money saved after a lifetime of working than younger people. Another...Read More