I hope my kids never ever feel they 'owe' me like this

PrettyGirlLost

thefanciestbeckler said:

kimmiinthemitten said:

Am I the only person judging LW for being a grown ass person who still has a joint account with their parents at age 28 plus?  They should have been an adult and opened their own account 8 some years ago. 

And now in unshocking news they can't have a conversation with them about closing it?  This is getting just an eye roll from me. 

Nope you're not. I'm totally judging.

I'm a grown ass adult who is still using the joint account that my father and I opened together so he could easily deposit money if I needed it in college.

I never switched accounts when I graduated, no one abuses the account, and I don't feel the need to switch accounts now.  I'm too lazy to go to the trouble of getting a new account, getting new checks, and re-registering the new account with all the other online accounts I pay bills to or use for online shopping since there's no real reason to go through all that.

I've had this account for over 17 years.  So actually I had the account in high school and added my Dad to it when I went off to college.

lyndausvi

PrettyGirlLost said:

thefanciestbeckler said:

kimmiinthemitten said:

Am I the only person judging LW for being a grown ass person who still has a joint account with their parents at age 28 plus?  They should have been an adult and opened their own account 8 some years ago. 

And now in unshocking news they can't have a conversation with them about closing it?  This is getting just an eye roll from me. 

Nope you're not. I'm totally judging.

I'm a grown ass adult who is still using the joint account that my father and I opened together so he could easily deposit money if I needed it in college.

I never switched accounts when I graduated, no one abuses the account, and I don't feel the need to switch accounts now.  I'm too lazy to go to the trouble of getting a new account, getting new checks, and re-registering the new account with all the other online accounts I pay bills to or use for online shopping since there's no real reason to go through all that.

I've had this account for over 17 years.  So actually I had the account in high school and added my Dad to it when I went off to college.

But do you know if your dad dies, his estate can claim 50% of the money in the account?    Or if you becomes irresponsible your dad could become libel?  These are the things people just don't fully understand why having a joint account can be risky.


Also, I currently and in the past have deposited my rent check directly into my landlord's account.  I'm old school, I  physically go to their bank and deposit into their account.  I've done this in a few different states, 1 territory using multiple different banks/credit unions.   It's hard to deposit cash into someone's account because of money laundering, but not checks.  So the whole, my dad's old school doesn't really make sense since he could have still done it old school.


Other than being a minor or having joint expenses, there are few reasons why adults and parents should have joint accounts.   Especially if only one part is actually contributing funds.

drunkenwitch

Why doesn't he just take himself off the account? 

Subwayloves

I have a joint account with my mom right now. It was the account I opened when I got my first job at 16, but is not my primary account now, as DH and I put most of our money into our joint account and this account as used as more of an allowance account for myself. My mom has never touched it. I don't want to just close it, because when DH and I opened our joint account we were told this type of account (and DHs personal account, which is the same type he opened at the same time) no longer existed, and we can get things through these accounts that we can't through our joint account, like free checks, free cashiers checks, etc. I know I need to get my mom off of this account at same point and we've talked about this, but it isn't a priority because it hasn't been an issue (and there isn't enough in it that it'd really matter for an estate if something happened to me).

MissKittyDanger

lyndausvi said:

PrettyGirlLost said:

thefanciestbeckler said:

kimmiinthemitten said:

Am I the only person judging LW for being a grown ass person who still has a joint account with their parents at age 28 plus?  They should have been an adult and opened their own account 8 some years ago. 

And now in unshocking news they can't have a conversation with them about closing it?  This is getting just an eye roll from me. 

Nope you're not. I'm totally judging.

I'm a grown ass adult who is still using the joint account that my father and I opened together so he could easily deposit money if I needed it in college.

I never switched accounts when I graduated, no one abuses the account, and I don't feel the need to switch accounts now.  I'm too lazy to go to the trouble of getting a new account, getting new checks, and re-registering the new account with all the other online accounts I pay bills to or use for online shopping since there's no real reason to go through all that.

I've had this account for over 17 years.  So actually I had the account in high school and added my Dad to it when I went off to college.

But do you know if your dad dies, his estate can claim 50% of the money in the account?    Or if you becomes irresponsible your dad could become libel?  These are the things people just don't fully understand why having a joint account can be risky.


Also, I currently and in the past have deposited my rent check directly into my landlord's account.  I'm old school, I  physically go to their bank and deposit into their account.  I've done this in a few different states, 1 territory using multiple different banks/credit unions.   It's hard to deposit cash into someone's account because of money laundering, but not checks.  So the whole, my dad's old school doesn't really make sense since he could have still done it old school.


Other than being a minor or having joint expenses, there are few reasons why adults and parents should have joint accounts.   Especially if only one part is actually contributing funds.

Bolded about estate - that depends on where you are

PrettyGirlLost

drunkenwitch said:

Why doesn't he just take himself off the account? 

Probably the same reason why I've never bothered to remove him or get a new account.

MissKittyDanger said:

lyndausvi said:

PrettyGirlLost said:

thefanciestbeckler said:

kimmiinthemitten said:

Am I the only person judging LW for being a grown ass person who still has a joint account with their parents at age 28 plus?  They should have been an adult and opened their own account 8 some years ago. 

And now in unshocking news they can't have a conversation with them about closing it?  This is getting just an eye roll from me. 

Nope you're not. I'm totally judging.

I'm a grown ass adult who is still using the joint account that my father and I opened together so he could easily deposit money if I needed it in college.

I never switched accounts when I graduated, no one abuses the account, and I don't feel the need to switch accounts now.  I'm too lazy to go to the trouble of getting a new account, getting new checks, and re-registering the new account with all the other online accounts I pay bills to or use for online shopping since there's no real reason to go through all that.

I've had this account for over 17 years.  So actually I had the account in high school and added my Dad to it when I went off to college.

But do you know if your dad dies, his estate can claim 50% of the money in the account?    Or if you becomes irresponsible your dad could become libel?  These are the things people just don't fully understand why having a joint account can be risky.

Other than being a minor or having joint expenses, there are few reasons why adults and parents should have joint accounts.   Especially if only one part is actually contributing funds.

Bolded about estate - that depends on where you are

We have the Multiple Parties Account Act and the law presumes that a joint account owner intends his co-owner to take the money in the joint account upon his death, and this presumption is only overcome by clear and convincing evidence to the contrary.

Subwayloves said:

I have a joint account with my mom right now. It was the account I opened when I got my first job at 16, but is not my primary account now, as DH and I put most of our money into our joint account and this account as used as more of an allowance account for myself. My mom has never touched it. I don't want to just close it, because when DH and I opened our joint account we were told this type of account (and DHs personal account, which is the same type he opened at the same time) no longer existed, and we can get things through these accounts that we can't through our joint account, like free checks, free cashiers checks, etc. I know I need to get my mom off of this account at same point and we've talked about this, but it isn't a priority because it hasn't been an issue (and there isn't enough in it that it'd really matter for an estate if something happened to me).

This.