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I read an earlier post that said this was not a good idea, but I don't remember the specific reasons, and haven't been able to find the post!

Not sure how this would work tax wise. Who claims the interest on their tax return or is it split? Of course if it's a small account probably doesn't matter...
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Reply to gnyg58
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If you are listed as co owner along with your parent & other siblings any one of the co owners can close out the account & open a new one in their name only.

Before anyone disagrees with me I know from facts because this is what my sibling did to my mothers account and I contacted tge bank and that is what they told me.
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Reply to Jada824
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It was confirmed to me yesterday that a person I know who took care of his parents for several years, including financial matters such as paying bills and buying groceries, has been using the parents' checking account since their deaths 6 years ago. He has three siblings, and the parents intended that all assets be divided equally among the four siblings.

Of course, the post-death misuse of the funds could have been averted if any of the siblings had initiated resolution of the parents' estates. I'm sharing this as a reminder that you can't rely on people, even (especially) family members, to do the right thing.
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Reply to Rosered6
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I was listed as a co-owner. I didn’t need the POD as I was co-owner.
Speak with their bank and they will explain the options. It is a very common practice.
Never use their account as your own. Don’t put your money in it or pay your bills from it. Your parents will most likely have to sign the card allowing you to be on the account. Some will allow you to take the card to them, others will not.
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Reply to 97yroldmom
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Agree you should be a co-signer not an owner. If you are also listed as POD you’ll never lose access to the funds.
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Reply to ShirleyDot
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Added as an Authorized Signer, not a "Co-Owner."
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Reply to Dawn88
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You can be added as a co-owner, or as an authorized signer. An authorized signer can handle the account and transactions for the parent, but the money and account still belong to the parent, including after his or her death, when it becomes part of the estate. This is a better choice if there are other heirs, such as siblings, because the money will still be shared in the estate instead of going to the co-owner, which the parent might not have intended.
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Reply to MG8522
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Advantages of being a co-owner: continuing access to money, even after the primary owner's death; makes bill paying easier. Disadvantages of being a co-owner: money in the account, even if most is from one person, will be considered to belong to both owners and available to both, including for things such as some debts and as an asset available for division if an owner goes through a divorce; after one owner's death, the other owner might treat the money in the account as belonging only to them, which can be problematic if there are other beneficiaries of the deceased person's estate.
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Reply to Rosered6
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Many here have done this and many here think it not a good idea. I am of the latter. I was told by my brother's attorney that this makes the account, one of joint ownership, murky and messy as to whose funds these are. If ever in need of governmental assistance they can say "Just WHOSE money is this with everyone writing checks on it?" You could be on as POD (pay on death) but of course this gives no access to the funds.

When my brother fell ill with probable early Lewy's Dementia we did the banking work together through his attorney. I was made Trustee on any Trusts; this means perfect Trust needed. That was for Trust accounts. Then made POA and was the designated to do all bills received for him and payment of all bills. We created also a small spending account which was solely his with me POD for his incidentals. He wasn't allowed to keep cash in his room and he still went shopping, needed haircuts and etc. All of this was done with a banker at his U.S. Bank and with all the documents for POA. I operated out of San Francisco at a branch here to pay his bills. He did his personal account in Palm Springs where he lived.

All of this is quite complicated. A POA doesn't work for SS checks. So were you to wish to transfer banks, the automatic deposit changes couldn't be done for SS by POA or by Trustee. Perhaps not even by your being on the account, but would require an application to be Representative Payee.

As I said, it was all an education I never wanted to get.

Were I you I would discuss all of this with the banker where your mother's accounts are. And if she doesn't have POA papers done, then it is crucial you address this. If she has a will you may already be listed as POA by Spring POA, which would have to be done through letters to court adjudging her incompetent. There are easier ways and this is where the attorneys come in.
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Reply to AlvaDeer
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I was listed on my dad’s bank accounts, checking and savings. He didn’t have dementia. It certainly made it easy to do his finances when he was frequently hospitalized and couldn’t, and also when he died, the accounts were immediately accessible to me. Accounts should be listed with “or” not “and” as in Mary Smith or Donna Smith instead of Mary Smith and Donna Smith.
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Reply to Daughterof1930
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lealonnie1 Dec 29, 2025
Exactly
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